New Delhi, March 16 -- If the war in Iran drags on, every sector is going to feel the bite, including tech. The key issues will be the supply of raw materials, interest rates, and a possible cyberwar.

Most of the focus has been on petroleum because about a fifth of the world's supply goes through the Strait of Hormuz in the Persian Gulf, which is effectively closed for now. Much of the world's chips and electronics are manufactured in China, Taiwan, and South Korea, and these countries are heavily dependent on Gulf energy, including liquefied natural gas for electricity generation.

The reaction has been swift for tech stocks in Taiwan and Korea. The American depositary shares of Taiwan Semiconductor Manufacturing are down 10% since host...