South Korea’s KOSPI Triggers Circuit Breaker After 8% Open Drop as Samsung, SK Hynix Slide
South Korea’s KOSPI triggered a 20-minute trading halt after dropping 8% to 7,445.1 at Monday’s open, extending Friday’s selloff as Samsung Electronics slid 10% and SK Hynix fell 11%. The Korea Exchange later activated a sidecar to halt KOSPI program selling.
The slump followed a 5.5% fall in the benchmark on Friday, when Samsung lost 6.4% and SK Hynix 9.9%, amid more than $10 billion of foreign outflows over the week and forced fund rebalancing. South Korean stocks have been led lower by chipmaker shares as investors rotate out of artificial-intelligence beneficiaries after Broadcom’s outlook disappointed and a stronger-than-expected US May jobs report of 172,000 reduced expectations for Federal Reserve rate cuts.
From the sources (25 posts)
@cnbcEuropean stocks set for mixed open after global tech sell-off
@reutersRT @ReutersOI: 🔊 The latest US jobs report looms, South Korean shares slide amid the broader chip sell-off and private credit nerves grow.…
@zerohedgeRT @themarketear: The first crack? KOSPI just got slammed, SK Hynix is down nearly 10%, and one of the market's most crowded trades is fac…
@reuters📉 Broadcom just clocked up one of the worst single-day falls in Wall Street history — and South Korea's stock market is feeling the pain. We break it down on today's Reuters Morning Bid podcast
@zerohedgeFutures Drop On Souring Chipmaker Sentiment, Kospi Plunge
@reutersInvestors dumped tech stocks after Broadcom's earnings pumped the brakes on the AI rally, rotating into sectors tied to a resilient economy. Rory McPherson from Magnus says it a 'stark reminder of sky-high expectations'
@businessA record weekly run for US stocks was in danger before the bell on Friday, as a rotation out of AI stocks continued and traders awaited payrolls data
@thestalwartStock futures extend their declines
@zerohedge*NASDAQ 100 FUTURES EXTEND DROP TO 1.5%
@firstsquawkNASDAQ 100 FUTURES EXTEND DROP TO 1.5 PCT
@financialjuice🔴 MOO IMBALANCE S&P 500: 134.6 MLN NASDAQ 100: 69.1 MLN DOW 30: 40.8 MLN MAG 7: 11.5 MLN $MACRO
@firstsquawkS&P 500 DOWN 52.48 POINTS, OR 0.69 PERCENT, AT 7,531.83 AFTER MARKET OPEN NASDAQ DOWN 321.79 POINTS, OR 1.20 PERCENT, AT 26,509.17 AFTER MARKET OPEN DOW JONES UP 24.41 POINTS, OR 0.05 PERCENT, AT 51,586.34 AFTER MARKET OPEN
@deitaone*S&P 500 OPENS DOWN 0.7%, NASDAQ DECLINES 1.2%
@hedgeyeStocks open red:
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@firstsquawkNASDAQ 100 DROPS FURTHER BY 2%.
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@maxcryptoTHIS IS INSANE. $950,000,000,000 has now been wiped out from the US stock market in just 35 MINUTES.
@firstsquawkNASDAQ 100 EXTENDS DROP TO 2.5 PCT
@tradfi*NASDAQ 100 EXTENDS DECLINE TO 3%, S&P 500 FALLS 1.7%
@firstsquawkNASDAQ 100 DROPS FURTHER BY 3%, S&P 500 DECREASES BY 1.7%
@zerohedge*NASDAQ 100 EXTENDS DECLINE TO 3%, S&P 500 FALLS 1.7%
@negligible_cap*NASDAQ 100 EXTENDS DECLINE TO 3%, S&P 500 FALLS 1.7%