KOSPI’s 8% Drop Triggers Circuit Breaker as Tech Selloff Hits Asia
South Korea’s Korea Composite Stock Price Index (KOSPI) index crashed by greater than 8% on Monday. This prompted the inventory market to halt buying and selling for 20 minutes after a US-led semiconductor selloff battered Asian markets.
The benchmark sank 8.4% to 7,477 after opening, tripping a circuit breaker. The Korea Securities Dealers Automated Quotations (KOSDAQ) additionally dipped greater than 7%.
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Why Tech Stocks Led the Crash
Samsung Electronics and SK Hynix each fell about 10% intraday. The two chipmakers dominate the KOSPI, so their losses dragged the entire index decrease.
The selloff additionally unfold to different Asian markets. Japan’s Nikkei 225 fell 3.4% as losses widened throughout the area. Market jitters had been fueled by escalating tensions within the Middle East.
In addition, the downturn had already gathered momentum after a pointy selloff on Wall Street. On Friday, the Nasdaq Composite plunged 4.18% to 25,709.43, marking its steepest one-day decline since April 2025.
Investors reacted to a stronger-than-expected US jobs report for May, which prompted merchants to reduce expectations for Federal Reserve price cuts this yr.
The knowledge pushed Treasury yields increased and intensified issues that elevated borrowing costs might weigh on expertise corporations making substantial investments in synthetic intelligence infrastructure.
Crypto Holds Firm as Risk Assets Wobble
Cryptocurrencies broke from the fairness slide on Monday. Bitcoin (BTC) traded near $63,020, up about 2.7% over 24 hours, based on BeInCrypto Markets data.
Ethereum (ETH) climbed roughly 6% to $1,680. The good points adopted weeks of steep losses throughout digital belongings throughout the wider selloff.
However, Bitcoin nonetheless sits greater than 45% under its October 2025 report of over $126,000. Persistent spot Bitcoin exchange-traded fund (ETF) outflows have weighed on costs.
The upcoming periods might reveal whether or not crypto continues to resist the risk-off temper gripping international markets.
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