Seoul Kospi crashes 10% as tech rout spreads across Asia, oil extends losses

South Korea's benchmark Kospi index crashed 10% on Tuesday, leading a broad sell-off across Asian equity markets as technology stocks plunged on renewed doubts about the sustainability of the artificial intelligence boom. The rout followed a sharp decline on Wall Street, where tech-heavy indices suffered heavy losses. Meanwhile, oil prices extended their recent slide as optimism grew over potential progress in Middle East peace negotiations between Washington and Tehran.

For energy traders, the simultaneous equity rout and oil price decline highlight a risk-off mood that could pressure commodity demand expectations. The tech-led sell-off raises concerns about global economic growth, which directly impacts oil consumption forecasts. Additionally, the prospect of a de-escalation in the Middle East conflict reduces the geopolitical risk premium embedded in crude prices. Live fuel prices and charts on NowPrice show how the market is reacting to these cross-asset moves in real time.

Looking ahead, traders will monitor further developments from the Switzerland peace talks and any signals from OPEC+ regarding production policy. The Kospi's 10% drop is the largest single-day decline since the 2008 financial crisis, and further volatility in Asian markets could spill over into energy futures. Key levels to watch include Brent crude's support near $70 per barrel and resistance at $75.