Tech-heavy equity indexes around the globe faced downturns as investors shed chip stocks. The sell-off followed ‘merely great’ earnings reports from Taiwanese chip manufacturer TSMC that failed to meet investor expectations for flawlessness.

The downturn resonated across global markets, with South Korea’s KOSPI and Japan’s Nikkei feeling the pinch, while the U.S.’s Nasdaq Composite fell significantly. Meanwhile, geopolitical tensions escalated with the U.S. and Iran exchanging fire, clouding global oil futures.

In the economic realm, U.S. retail data aligned with predictions, but currency movements were influenced by hints of U.S. economic resilience and Federal Reserve actions. Meanwhile, precious metals like gold and silver saw…