Millions have suffered “unprecedented” losses after Samsung and SK Hynix stock tumbled on the South Korean market.

South Korea's KOSPI fell over 7% as SK Hynix and Samsung tumbled amid a global chip selloff and growing concerns over China's semiconductor advances.

HONG KONG (AP) — South Korea’s Kospi index plunged more than 10% on Tuesday on heavy selling of chipmaking stocks that have gyrated recently due to concerns over the sustainability