Asian Markets Tumble as Global AI Sell-Off Deepens with Kospi Down 8%
Macro·5 articles across 5 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
A global selloff in semiconductor stocks dragged South Korea’s equity benchmark down 8% on Thursday, underscoring the scale of an investor exodus from the frothiest corners of the AI trade.
The sell-off was triggered by fears surrounding Federal Reserve rate hikes and concerns over AI funding, leading to significant declines in major tech stocks, including a 10% plunge in SK Hynix shares. The downturn also impacted currencies, with the Taiwan dollar and South Korean won leading losses among Asian currencies as demand for AI supply-chain plays diminished.
SK HynixSamsung
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“A global selloff in semiconductor stocks dragged South Korea’s equity benchmark down 8% on Thursday, underscoring the scale of an investor exodus from the frothiest corners of the AI trade.”
Bloomberg — Kospi Drops 8% as Samsung, SK Hynix Shares Plunge on AI and Rate Fears“A sell-off in global technology hardware stocks deepened Thursday.”
CNBC — SK Hynix shares plunge 10% amid Asia tech rout as Fed rate hike fears, AI funding worries mount“Sharp falls trigger trading halt on South Korea’s Kospi and Japan’s Nikkei 225 sinks 5%, following Wall Street lower”
FT — Global AI sell-off deepens as Asian markets tumble
SupportCorroborates it
“Lee Ying Shan / CNBC: Asian chipmakers extend Wall Street losses as US Fed rate hike fears and AI funding worries mount; SK Hynix fell 10%+ on the KRX, while Samsung fell ~10% — A sell-off in”
techmeme — Asian chipmakers extend Wall Street losses as US Fed rate hike fears and AI funding worries mount; SK Hynix fell 10%+ on the KRX, while Samsung fell ~10% (Lee Ying Shan/CNBC)“A global equity selloff deepened as chip stocks plunged on Wall Street and in Asia, further unwinding this year’s blistering rally in the artificial intelligence trade.”
Bloomberg — Stock Losses Deepen on Chip Rout, Treasuries Rally: Markets Wrap“Investors rush into Treasuries as sell-off triggers demand for haven assets”
FT — US chip stocks slide as inflation and AI debt fears unsettle investors“Asian stocks plummet as AI debt and inflation fears bite”
nikkei asia — Asian stocks plummet as AI debt and inflation fears bite“The Taiwan dollar and South Korean won led losses among Asian currencies in early trading as an overnight slump in Wall Street semiconductor shares spilled into regional markets, dampening demand for”
Bloomberg — Taiwan Dollar, Won Slump as Chip Stock Selloff Hurts Sentiment
Earlier versions
- Oct 15, 1:07 AM — SK Hynix Shares Plunge 10% Amid Asia Tech Rout (2/2)