South Korea’s KOSPI plunged on Monday as a global chip selloff turned into a full-blown stress test for one of the world’s hottest equity markets. The benchmark index triggered a Level 1 circuit breaker just minutes after the open, falling as much as 8.4% to around 7,477 in early trade. Samsung Electronics and SK Hynix, which together dominate the index, both dropped about 10%, while the won weakened to around 1,554 against the dollar. The scale of the rout was striking because it came just a day after Nvidia announced fresh AI partnerships with SK Hynix and Naver, underlining how quickly panic overwhelmed even positive industry news. Broadcom, bad jobs data and a leverage time bomb The selloff had three...
KOSPI plunges 8%: why Goldman Sachs still sees 12,000
