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First Mover Asia: Ether Tumbles Below $1.5K; Ethereum Merge May Ding Demand for Chips, but Semiconductor Stocks Could Still Be a Good Buy

Equity markets also had their problems with the tech-focused Nasdaq and the S&P 500, which has a strong technology component, both declining more than a percentage point, and the Dow Jones Industrial Average (DJIA) losing about 0.5%. Investors remain skittish about inflation and the looming robustness of the U.S. central bank’s next interest rate hike at its Federal Open Reserve Committee meeting in less than a week. Observers of monetary policy widely expect a third, consecutive 75 basis point increase, although the odds of a 100 basis point rise ticked higher on Wednesday.