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The Democratic Party's landslide victory in the Nov. 3 US midterm elections, dubbed a 'blue wave' or 'blue tsunami,' triggered a historic global market selloff. Dong-A Ilbo reports that global market capitalization fell by $3.5 trillion (about 4,774 trillion won) in a single day, with the KOSPI plunging more than 5% and briefly breaking below the 5,000 mark intraday. Business Korea says the KOSPI closed below 5,400 on Nov. 5, while KBS World confirms both KOSPI and KOSDAQ tumbled over 5% on fears of tighter AI and big tech regulations. Korea Times adds that the blue wave is expected to cool memory chip prices and demand, casting doubt on Samsung Electronics and SK hynix's earnings outlook. Korean media frame the selloff as a 'blue wave shock' hitting semiconductor stocks hardest, with Dong-A Ilbo noting President Donald Trump threatened tariffs of up to 300% on companies that don't build factories in the US.