Friday's chip rout hit Asia harder than Europe, KOSPI −8%, Nikkei −3.7%, but Europe's barely red. How does NY open?

Not a pitch, just laying out the global tape ahead of the US open, because the pattern today is unusually clean.

Friday's US session was ugly,

Nasdaq −4.18%,
S&P −2.64%,
Russell −3.47%

Chip-led and accelerated by the hot jobs report. When Asia opened, the chip-heavy markets took it worst: KOSPI down around 8% (basically a Samsung/SK Hynix proxy), Nikkei −3.7%, Shenzhen −3.2%, Taiwan and Hang Seng softer. India held up better, though its VIX jumped 8%.

Here's the interesting part: by the time it reached Europe, the panic had mostly burned out. DAX −0.76%, CAC −0.42%, FTSE basically flat, a couple of indices even green. And US VIX is actually cooling, down toward 19.5. So the contagion got weaker as it moved west, not stronger.

That's the fork into the open: does Wall Street take the calmer European read and stabilize, or re-test Friday's lows once cash opens?

How are you positioning:

* When a selloff fades as it crosses time zones, is that the panic exhausting itself, or a false calm before the US open?
* Does the chip-specific damage (KOSPI, Taiwan) change how you'd trade the Nasdaq open versus the broader index?
* Bounce or second leg down, and what's the first thing you'll watch in the opening 30 minutes to decide?