Tech stock sell-off spreads to Asia as South Korea's Kospi plunges over 8%

Summary

A broad technology stock sell-off that began on Wall Street has spread to Asian markets, with South Korea's Kospi index falling over 8% and triggering a trading halt. Major chipmakers Samsung Electronics and SK Hynix dropped 5% and 2% respectively, together making up over 40% of the index. The Nasdaq Composite fell 4.18% on Friday in its biggest drop since April 2025. Finance professor Jeremy Siegel described the sell-off as a common reaction to a parabolic rise in stock prices, though he remained optimistic. Meanwhile, tensions in Iran are pushing oil prices higher.

Source

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