Global markets tumbled after a tech sell-off hit Wall Street amid weak Chinese economic data showing a record slump in investment. US markets faced pressure, with the Nasdaq down 1.8% and the S&P 500 falling 0.7%. The FTSE 100 in London dropped 1.4%, while European markets also fell, with France’s Cac 40 down by 0.54% and Germany’s Dax falling 0.9%.

Tech giant Nvidia led a sector decline, dropping 3.6% after SoftBank sold its stake, sparking valuation concerns. Other tech companies like SK Hynix and Samsung Electronics fell over 6% and 4%, respectively. Asian markets also suffered losses, with Japan’s Nikkei down 1.8% and South Korea’s Kospi plunging 2.6% after a tough day on Wall Street.

Fears of a Chinese economic slowdown further impacted global markets with a record decline in fixed-asset investment, down 1.7%. China’s CSI 300 fell 0.7%, Hong Kong’s Hang Seng dropped 0.9%, and Taiwan’s Taiex slumped 1.4%. US markets remained jittery due to the impact of the longest federal government shutdown in history, delaying crucial economic data releases.

Investors showed concern over the potential impact of a US rate cut next month amidst market volatility. The shutdown led to a hold on inflation and job data releases. The pound fell against the dollar, and UK 30-year gilts rose as investors weighed the effects of the chancellor’s decision to abandon income tax rate increases.

Read more at Yahoo Finance: Global markets fall after tech sell-off and fears over Chinese economy