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KOSPI Plunges 6%, Barely Holds Above 5,000 on AI Fears
On Nov. 6, the KOSPI plunged more than 6 percent, barely holding above the 5,000 mark, as fears of tighter U.S. regulation of AI data centers sparked panic selling in chip stocks, according to the Korea Times and KBS World. Yonhap reports the benchmark briefly dipped below 5,000, while KBS World notes trading was halted at 9:03 a.m. after an early plunge of over 8 percent triggered a circuit breaker. Business Korea describes the market as swept into "extreme panic" from a cold wave in mega-cap tech stocks originating in New York. The Korea Times adds that fears the AI investment cycle may be nearing its peak sent shares of Samsung Electronics and other chipmakers tumbling. Korean reactions, as reflected in news coverage, center on the "Blue Wave shock" over AI and large tech stock regulations, with the market failing to withstand the storm of concerns.
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