* KOSPI dives 8%, Nikkei drops 3.9% as AI rally stalls

* Oil rises on Middle East tensions, off highs

* Shifting Fed rate expectations send investors to the tech

exits

(Updates for European afternoon trading)

By Samuel Indyk and Tom Westbrook

LONDON, June 8 (Reuters) - Global stocks were mixed on

Monday as the tech rout rippled through Asia while signs of an

easing of tensions between Iran and Israel supported European

stocks and U.S. futures rebounded following Friday's selloff.

Renewed air strikes in the Middle East had pushed up oil

prices and weighed on European stocks in early trading. But

Tehran said it had ended its military operation against Israel,

calming investors' worries that a flurry of weekend attacks

threatened efforts to broker a peace deal to end the Iran war.

Brent crude futures, which had been up about 5% in

the European morning, were now up 1.5%.

Europe's STOXX 600 was little changed. Major

bourses in Frankfurt, Paris and London

were down 0.4% to up 0.1%, but had all been sharply lower in

early trade.

Europe's relative lack of a technology hardware sector and

greater exposure to energy prices have meant its major markets

have largely taken a back seat in the rally that has gripped

Wall Street, Tokyo and Seoul, but it also makes the region more

insulated than other markets to a sharp selloff in the tech

space.

The twin triggers for the recent tech rout were last week's

disappointing outlook at chipmaker Broadcom ( AVGO ) and a

surprisingly strong U.S. jobs report on Friday that has traders

pricing in a rate hike from the Federal Reserve this year.

"The market has gone a long way without a correction," said

Lars Skovgaard, senior investment strategist at Danske Bank.

"The big surprise is not that we had a selloff, but that we

didn't have it before."

In Asia, the decline in equity markets was stark. South

Korea's chip-heavy KOSPI, the world's best-performing

market this year, led losses with an 8.3% slide that has the

benchmark down over 16% from last week's record high.

Japan's Nikkei fell almost 4% with market darlings

across the computer-chip production supply chain falling

furthest, while Taiwan's benchmark sank 3.5%.

Nasdaq futures were up 1.2%, showing signs of

recovery following a sharp selloff on Friday when the index

dropped 4.2%. S&P 500 futures were up 0.6%.

"I see this as a healthy correction, and I'm not that

worried," Danske Bank's Skovgaard said. "Remember, the reason

for yields to move higher was due to a very strong labour

market, and that's good for the U.S. economy."

In bonds, the 2-year Treasury yield rose more

than 11 basis points on Friday after the robust jobs report had

markets betting that the Fed will hike rates this year. It was

down about 1.5 bps on Monday to 4.149%. The benchmark 10-year

yield was little changed on Monday at 4.538%, after

rising 6 bps on Friday.

INFLATION AND ECB AHEAD

The week ahead is headlined by the giant SpaceX listing,

expected to price on Thursday and trade on Friday, but inflation

will also be in focus with U.S. consumer price data due on

Wednesday and central bank meetings in Canada and Europe.

Last week, bitcoin notched its heaviest weekly drop

since the collapse of crypto exchange FTX in late 2022, falling

about 16%. It was up slightly on Monday, hovering above $63,000.

SpaceX's debut is expected to be followed by other major

IPOs in the coming months from Anthropic and OpenAI, raising so

much money that brokers are nervous it could draw down other

assets.

"The market regime has potentially shifted from moderate

inflation and rate cuts to potential 'overheating' contributing

to higher Treasury yields, a higher path of short-term interest

rates and tighter liquidity," said Nick Ferres, CIO of Vantage

Point Asset Management in Singapore.

In currency trading, the dollar edged back after a strong

jump on Friday. The U.S. currency was holding at about 160 yen

, keeping investors on watch for intervention from

Japanese authorities, while against the euro it stood at

$1.1533.