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stocksJun 24, 2026, 12:31 PM

Korea Leverage Shock Triggers Tech Selloff, Micron in Focus

Tuesday's technology selloff was driven by a leverage shock in South Korea rather than a collapse in AI demand. Samsung Electronics and SK Hynix fell over 12%, dragging the KOSPI down 9.99% and triggering a market-wide trading halt.

MUSSNLF

Tuesday's technology rout was triggered by a leverage shock in South Korea, not a fundamental deterioration in AI demand. Samsung Electronics and SK Hynix each plunged more than 12%, pulling the KOSPI down 9.99% and forcing a market-wide trading halt.

Attention now turns to Micron, whose upcoming earnings may determine whether the sector can recover. The stock is seen as a bellwether for AI chip demand. Traders are watching for signs that the Korean leverage flush was an isolated event rather than a systemic risk to global tech.

The selloff underscores how interconnected global markets are, with leverage in one region quickly spilling over into others. Micron's results could either stem the bleeding or deepen the losses if they disappoint.

Source: FXStreet Forex News