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KOSPI plunges over 3% on US tech earnings, AI concerns

South Korean stocks fell sharply on Oct. 30, with the KOSPI dropping more than 3 percent and briefly sinking over 5 percent late Friday morning, as losses in U.S. technology stocks and concerns over returns on AI investments triggered selling in heavyweight chipmakers Samsung Electronics and SK hynix, Yonhap and the Korea Times report. The market opened nearly 3 percent lower after big tech firms like Alphabet plunged overnight on Wall Street, with Business Korea noting the index barely held the 5,700 level amid worries over prolonged Fed monetary tightening. The selloff follows a broader trend: the Nasdaq slid over 2 percent on Oct. 22 on AI cost worries after Tesla and Meta earnings, and Korea Times reported on Oct. 28 that Amazon, Microsoft and Alphabet's cloud earnings were expected to test the AI boom amid market turmoil.

  1. KOSPI falls 3.48% as US tech earnings fuel AI investment concerns Korea Times · 2026-10-30
  2. [Closing Market] KOSPI Plunges 3.5%, Barely Holding 5,700 Level Amid Global Tech Rout Business Korea · 2026-10-30
  3. Seoul stocks down over 5% late Fri. morning on tech losses amid AI concerns Korea Times · 2026-10-30
  4. (2nd LD) Seoul shares dip over 3 pct on tech sell-off amid AI concerns Yonhap · 2026-10-30
  5. [Opening Market] KOSPI Opens Sharply Lower Below 6,000 on U.S. Big Tech Plunge Business Korea · 2026-10-30
  6. Wall Street sinks as Nasdaq falls over 2% on AI cost worries Korea Times · 2026-10-23
  7. Big Tech earnings to test AI boom amid market turmoil Korea Times · 2026-10-28

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