15-Oct-2026 09:59:37
South Korea's KOSPI Crashes 8% as AI Stocks Collapse
South Korea’s KOSPI plunged nearly 8% on Thursday, extending its recent sell-off to around 19% over five trading sessions. Samsung Electronics tumbled over 9%, while SK Hynix plunged 11%, triggering a temporary trading halt. The crash followed hotter-than-expected US inflation of 3.7%, raising interest-rate concerns. Investors also fear excessive AI infrastructure spending, rising borrowing costs and growing competition from Chinese chipmakers. Foreign selling has intensified pressure on South Korea’s technology-heavy market.