Global tech stocks plunge as selloff sweeps markets; Kospi drops 10%
By
Chloe Taylor
Summary
Global stock markets experienced a significant selloff on Tuesday, led by steep losses in the technology sector. South Korea's tech-heavy Kospi index fell 10%, dragged down by chipmaker SK Hynix and Samsung, both losing over 12%. European markets also declined sharply, with the Stoxx 600 dropping 1.2% and the Stoxx 600 Technology index falling 3.2%, led by chipmaker STMicroelectronics. The selloff followed a losing session for tech stocks on Wall Street.
Source
bskyGlobal tech stocks plunge as selloff sweeps markets; Kospi drops 10%cnbc.comKey quotes
· 4 pulledGlobal stocks sold off on Tuesday, led by deep losses for tech stocks following a losing session for the sector on Wall Street.
South Korea's tech-heavy Kospi index closing 10% lower.
The index was dragged down by chipmaker SK Hynix and tech giant Samsung, with both companies ending the session on losses of more than 12%.
The Stoxx 600 Technology index led regional losses, with a decline of 3.2%.
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