South Korea’s benchmark KOSPI index crashed nearly 10% on Tuesday, triggering circuit breakers as a massive sell-off engulfed the technology sector.
The benchmark extended its decline from record highs, marking one of the sharpest single-day reversals in recent market history.
The rout was driven by aggressive profit-taking in the technology sector, with foreign investors dumping major semiconductor shares and other market heavyweights.
The selling pressure tracked overnight losses in U.S. markets, amplifying the downward momentum in Seoul.
The sharp reversal from record levels highlights the fragility of the recent tech rally, as external headwinds and internal profit-taking converged to trigger a broad-based liquidation.
The severity of the drop in Seoul underscores the vulnerability of high-valuation growth stocks to sudden shifts in global sentiment.