South Korea’s Kospi index fell 8% on Thursday. It is now on track to enter a bear market. SK Hynix shares dropped more than 9%. Samsung Electronics shares also fell over 9%. Investors are pulling back from AI-related semiconductor stocks. Concerns over Federal Reserve rate hikes are driving the selloff. AI funding difficulties are also weighing on the sector. Trading on Korea’s stock exchange was halted for 20 minutes. The Kospi has lost about 20% since its September peak.
- Kospi down 8%
- SK Hynix down over 9%
- Samsung Electronics down over 9%
- Kospi down ~20% from September high
Sources