South Korea's Kospi tumbles 8.18% amid AI stock sell-off
South Korea's Kospi index took a sharp 8.18% dive on Tuesday, mostly because investors rushed to sell off AI-related stocks.
Big names like Samsung Electronics and SK Hynix dropped more than 6%, and Hyundai Motor also slid nearly 6%.
Hanwha Ocean had an especially rough day, falling by 23%.
Axis predicts slow Indian IT growth
The sell-off shows people are getting nervous that the recent hype around AI stocks might not last.
This cautious mood isn't just in Korea; other Asian markets are feeling it too.
Over in India, markets opened a bit higher, but analysts expect some turbulence ahead, especially for tech-heavy sectors.
Axis Securities is also predicting slow growth for Indian IT services for Q1FY27, pointing to a cautious demand environment and rising costs as key reasons.