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South Korea's KOSPI plunges 8.3% on Fed rate hike fears, triggering circuit breakers

CNA

27d ago· 4 min readenNews

finance stock market business asian markets

Summary

South Korea's KOSPI index plunged 8.3% on Monday, triggering circuit breakers, after strong U.S. jobs data increased expectations of a Federal Reserve rate hike. The selloff hit tech-heavy markets that had driven the broader AI rally, with Samsung Electronics falling 10.2% and SK Hynix dropping 7.7%. The index closed at 7,484.41, marking its biggest daily decline since March 4 and sitting 15% below its June 2 peak.

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bskySouth Korea's KOSPI plunges 8.3% on Fed rate hike fears, triggering circuit breakerschannelnewsasia.com

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South Korea's stock benchmark plunged over 8 per cent on Monday, tripping circuit breakers, after robust U.S. jobs data lifted bets on a Federal Reserve rate hike and unleashed a selloff in the tech‑heavy market that had powered the broader AI rally.

The KOSPI fell 8.3 per cent to close at 7,484.41, marking its biggest daily fall since March 4.

Chip heavyweight Samsung Electronics tumbled 10.2 per cent, and peer SK Hynix dropped 7.7 per cent even as Nvidia's CEO, Jensen Huang, said SK Hynix remained its 'bigg

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SEOUL, June 8 : South Korea's stock benchmark plunged over 8 per cent on Monday, tripping circuit breakers, after robust U.S. jobs data lifted bets on a Federal Reserve rate hike and unleashed a selloff in the tech‑heavy market that had powered the broade

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South Korea's KOSPI plunges 8.3% on Fed rate hike fears, triggering circuit breakers

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