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.

South Korea's Kospi index dropped 8% as Samsung Electronics and SK Hynix shares plunged, driven by AI financing risks and growing competition from China's semiconductor industry.