Asian stock markets opened sharply lower on November 6, tracking an overnight rout on Wall Street. South Korea's SK Hynix nosedived 12% and Samsung Electronics fell 10%, dragging the KOSPI index down more than 8% at one point and triggering a circuit breaker. Japan's Nikkei 225 index dropped below 57,000 points, down over 6.7%, with Kioxia sliding 11%. Taiwan's weighted index opened deep in the red, down nearly 9%, as TSMC fell close to 10%. Investors are increasingly worried that a shifting U.S. political landscape could slow data center construction, in turn clouding the growth outlook for semiconductor companies. Analysts noted that a Democratic election victory could act as a catalyst, setting off a more sustained unwinding of AI-related stocks. Meanwhile, the market is reassessing the possibility that the Iran war may be drawing to a close, and international oil prices have rebounded. ANZ analysts said oil prices fell fast and hard after the election results were announced — a move that may have been an overreaction. Analysts said the market is beginning to come to grips with the reality of the situation: Iran still controls the Strait of Hormuz and is unlikely to relinquish that control.