🇰🇷🇺🇸 South Korea's stock market just shed nearly 9% in four trading days as Samsung and SK Hynix led an AI chip selloff
Monday's 3.65% drop in Seoul came on the first session back from a three-day holiday, and it capped a four-day slide that took the KOSPI from above 7,000 to 6,384.
The damage came straight from the AI trade, with Samsung down 4.4%, SK Hynix down 4.5%, and foreign investors dumping nearly 2 trillion won in Korean stocks, mostly chips.
Korea builds the memory chips that go inside AI servers, so when Seoul starts doubting whether AI will actually pay off, that worry rarely stays in Seoul.
Ten AI giants already make up 42% of the US stock market, and with oil above $105 stoking inflation fears, a Korean chip slide like this is the kind of tremor that tends to reach American portfolios next.
Source: CNBC, Digital Today,
@WatcherGuru / Writer: Daniel