South Korea's Kospi plunges 6% as chip stocks lead global tech selloff

stuttgarter-nachrichten.de (German) —

South Korea's stock market crashed on Friday, with the Kospi index falling over eight percent at one point, triggering a temporary trading halt amid a global tech selloff. The Kospi closed at 5,059.69 points, down six percent, after a 20-minute circuit breaker pause. Chipmakers SK Hynix and Samsung fell sharply, with SK Hynix losing nearly two-thirds of its value since summer. The selloff was sparked by Wall Street losses and doubts about AI infrastructure growth following US midterm elections. Oil price concerns from Strait of Hormuz incidents added pressure, with the DAX opening 1.5 percent lower.


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