South Korean Stocks Plunge Over 10% as Global Markets Show Warning Signs
South Korea's Kospi index tumbled more than 10% overnight, with SK Hynix down close to 15% and Samsung Electronics losing 13%. Dow futures edged slightly higher amid the sell-off.
South Korean equities suffered a sharp sell-off overnight, with the Kospi index falling over 10%. Chipmaker SK Hynix dropped nearly 15%, while Samsung Electronics lost 13%.
In U.S. pre-market trade, Dow Jones Industrial Average futures were up about 1%, supported by defensive sectors like paint and soft drinks. S&P 500 futures were roughly flat, indicating limited spillover so far.
The abrupt decline in Seoul raises questions about whether markets are flashing a near-term top or merely a brief correction. Traders will closely watch how Asian and European sessions react.
Source: FXStreet Forex News