Global Tech Stocks Crater as Kospi Plunges 10%
South Korea's Kospi index nosedives 10% as a brutal tech selloff rips through global markets.
Global tech stocks are getting absolutely hammered. South Korea's tech-heavy Kospi index plunged 10% on Tuesday, dragged into the abyss by heavyweight chipmakers SK Hynix and Samsung.
The carnage didn't stop in Asia. European semiconductor giants STMicro and ASML both dropped roughly 7%. US tech stocks followed suit, sliding in pre-market trading.
The selloff comes on the heels of a losing session for tech on Wall Street, triggering a cascading wave of selling across global markets. Tech led the broader decline, with chip stocks taking the hardest hits across every major market.
The rout underscores just how interconnected — and fragile — the global semiconductor supply chain really is. When Wall Street sneezes, Seoul and Amsterdam catch pneumonia. Investors are clearly in risk-off mode, and nobody's being spared.