U.S. Market Slump Sparks Global Sell-Off

A market tumble that began in the United States continued across Asia on Wednesday as concerns about the global economy and major technology companies spread among investors.

The Nikkei index in Japan dropped more than 3 percent in early trading. Benchmark indexes in Korea and Taiwan declined by more than 2 percent, while stocks in Shanghai and Shenzhen also dipped slightly.

The declines were largely influenced by a sell-off in tech companies in the United States on Tuesday. Shares of the semiconductor giant Nvidia plummeted 9.5 percent and dragged the technology-heavy Nasdaq down more than 3 percent.

The reaction in global markets shows that investors are still jittery weeks after the market meltdown in early August, when fears about a slowdown in the American economy snowballed into a global rout.

A series of economic data points since then has eased concerns about a potential recession in the United States, and stocks had rebounded sharply in recent weeks.

That rise ruptured on Tuesday.

Oil prices also fell sharply, reflecting broader unease about the global economy. Brent crude, the international benchmark, dropped nearly 4 percent to just over $73 a barrel on Tuesday, its lowest point of the year.

In Asia, the sell-off predominantly affected technology and semiconductor stocks, mirroring the declines seen in major U.S. tech companies such as Nvidia.

The Japanese chip equipment maker Tokyo Electron fell more than 7 percent on Wednesday, while the technology investor SoftBank was down more than 5 percent. Taiwan Semiconductor Manufacturing Company saw a decline of around 4 percent.

In a report this week, analysts at the Bank of America said it expected the global economy to grow 3.1 percent this year, an only slightly