Asia stocks lose $1 trillion in a day as Bitcoin slides 6%

Asia-Pacific equities erased more than $1 trillion in a single session Friday, as a technology-stock selloff ripped through the region's markets. The damage was broad, hitting every major index in the bloc. It was one of those days where the tape does the talking.

Bitcoin took a hit too, but a lighter one. BTC slid roughly 6% and changed hands at $75,600, holding above the $75,000 line. That's a softer fall than technology shares absorbed during the same stretch.

South Korea's KOSPI was the ugliest scene, diving 9% intraday and tripping a circuit breaker that halted trading. Japan's Nikkei fared badly enough to slip into a technical bear market. Two of Asia's heavyweight indexes, both bleeding.

The trigger traces back to Wall Street's own tech retreat after the U.S. midterm elections. Those losses bled into Asian trading hours and snowballed from there. By the close of the snapshot, the regionwide equity decline and crypto's dip were moving in lockstep.

One number to keep straight: the $1 trillion figure is an aggregate drop in market value, while Bitcoin's move is a percentage change. They measure different things, but they landed on the same Friday. The takeaway — stocks and crypto both caught the same chill, only at different depths.