South Korea's KOSPI pauses 20 minutes after over 8% decline
Business
South Korea's KOSPI index took a sharp hit on Tuesday, dropping more than 8% and causing a 20-minute pause in trading.
The big reason? Shares of Samsung Electronics and SK Hynix (two major chip makers) fell more than 10% and 12%.
When trading resumed, the index slid even further, hitting a session low of 9.1%.
Micron uncertainty fuels $2.6bn foreign selling
The sell-off was fueled by worries about US tech stocks and uncertainty around Micron Technology's earnings, which matter for AI chip demand.
Foreign investors led the exit, selling about $2.6 billion in shares, while local retail investors stepped up their buying.
Analysts say recent AI hype pushed prices too high, and today's drop exposed just how volatile things can get when momentum fades.