Japanese and South Korean shares tumbled on Friday, following a massive selloff in tech stocks on Wall Street the previous day.

Tokyo's benchmark Nikkei 225 index fell 5.5% in early trade, while Seoul's tech-heavy Kospi index slid as much as 8.8%, triggering a circuit breaker which suspended trading for 20 minutes. Taiwan's benchmark TAIEX index was also down more than 8%.

Asian tech giants including Samsung Electronics, SK Hynix and Taiwan Semiconductor Manufacturing Company (TSMC) have borne the brunt of the artificial intelligence-related selloff.

Samsung plunged nearly 10% while SK Hynix slid over 11%.

Chip-related shares in Japan also took a beating, with Tokyo Electron stock trading down around 9% and Kioxia shedding 13%.

European stock futures fell 1%, indicating that the selloff was likely to spread across to Europe.

What's behind the stock rout on Wall Street?
On Thursday, US markets were hammered by a sharp retreat in tech stocks, particularly those involved in the buildout of artificial intelligence infrastructure like data centers.

The tech-heavy Nasdaq fell 5.52% and shed as much as $2.5 trillion (roughly €2.23 trillion) in market value, while the broader S&P 500 index plunged 4.4%.

The rout occurred as investors grow increasingly anxious about the colossal AI spending plans and whether they will eventually produce commensurate profits.

The results of the US midterm elections, which saw Democrats seize control of both houses of US Congress, added to the concerns.

A number of Democratic governors-elect campaigned on slowing artificial intelligence development and promised to stop or pause the construction of data centers amid growing public opposition to such projects.

"It's pretty clear there's been a real shift ​in sentiment," Michael McCarthy, chief executive for Australia and New Zealand at online brokerage Moomoo, told the Reuters news agency.

"Market turning points are often accompanied by strong disagreement, and that shows up in the market ​by huge swings in either direction," he said. "That's what we appear to have had — and last night's emphatic sell-down suggests that is the direction that we're now headed in."