Global equities sink as Apple slide pressures tech shares

The tech sector slump pushed global stocks to a two-week low after Apple’s sharp drop and a report that OpenAI may delay its IPO until 2027.

U.S. equity futures pointed lower as risk appetite faded, with Nasdaq 100 futures off 1.5% and S&P 500 contracts down 0.8%. The weakness quickly spread across Asia, where chip and mega-cap technology names bore the brunt of selling.

Apple slide ripples through chip supply chains

Apple shares fell 6.1% in U.S. trading after the company raised prices for certain Macs, iPads and home devices. The move reverberated through regional supply chains, sending shares of several Asia-based Apple suppliers lower.

Market participants linked the repricing to strained component availability, particularly memory used in high-end devices. Fabien Yip, a market analyst at IG International, said Apple cited an “unprecedented” memory-chip shortage tied to surging AI data-center demand.

Yip argued that if one of the largest buyers of components is passing costs to consumers, investors may reassess how sensitive demand could be to higher device prices. The episode also raises questions about how long elevated memory-chip pricing can persist if end-demand softens.

Asia hit hard as South Korea sees another halt

South Korean equities, heavily weighted toward semiconductors, saw a second trading suspension this week after the Kospi dropped as much as 9%. A broader Asian equity benchmark slid 3.2%, highlighting the region’s exposure to technology hardware and chip exports.

Japan’s market also fell sharply, with the Nikkei 225 down nearly 5%. SoftBank Group shares plunged 14% after the New York Times reported that OpenAI is leaning toward postponing an initial public offering until 2027.

The report weighed on SoftBank because the company is seen as a key backer that could benefit from an earlier listing. Yip said a potential delay would underscore how recent volatility in technology shares can cool retail enthusiasm for marquee IPOs.

Oil dips below $74, but calm in energy fails to lift stocks

Energy prices offered little relief for equity traders even as crude declined. Brent fell below $74 a barrel after rising the previous day, when a projectile strike on a vessel in the Strait of Hormuz renewed concerns about shipping through the strategic channel.

Futures had briefly given back all gains tied to the wartime risk premium before the ship incident revived fears around safe passage. Even with Brent easing again, the shift did not translate into better sentiment for stocks, suggesting technology-specific worries were dominating.

For investors, the session combined several stress points at once: higher hardware prices, uncertain component availability, and questions about whether the IPO window for high-profile AI companies is narrowing. The scale of the moves in Korea and Japan further signaled how quickly global tech positioning can unwind.

Next steps will be closely watched in three areas: whether Apple’s price increases coincide with any demand slowdown, whether chip supply tightness persists as AI infrastructure spending continues, and whether OpenAI or other major issuers provide clearer timelines that could stabilize expectations for future listings.