Chip Rout Goes Global As Philadelphia Semiconductor Index Crashes 12%

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Asian technology shares sank on Friday after a brutal Wall Street session that pushed the Nasdaq Composite down 5.5% and into correction, more than 10% below its recent high. The Philadelphia Semiconductor Index lost 12.2% overnight. In South Korea, SK Hynix dropped 10.44% and Samsung Electronics fell 6.35%. SoftBank Group slumped 10.83% in Tokyo, while …