South Korea’s benchmark KOSPI index plunged more than 4% on Monday, extending a historic selloff as panic over artificial intelligence (AI) valuations overshadowed geopolitical relief.
The tech-heavy index surrendered its recent relief rally, dragged down by nearly 8% drops in semiconductor giants Samsung Electronics and SK Hynix Inc.
(NASDAQ:SKHY), ignoring news that the U.S. had halted a planned military strike on Iran.
AI Selloff Deepens The steep losses extend a brutal period for South Korean equities.
In July, the KOSPI plunged 22.18%, marking its worst monthly performance since the 2008 global financial crisis.
