South Korea’s 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 memory for the Seoul bourse.
The rout was concentrated in high-flying tech names, where investors executed aggressive profit-taking after a prolonged rally.
The selling pressure quickly broadened, dragging down the wider index and sparking volatility across other Asian equity markets.
Traders faced a chaotic session as automated trading systems and stop-loss orders exacerbated the downward momentum.
This development follows a period of record-breaking performance for Asian equities, with the KOSPI having reached new peaks earlier in the week.