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 drops in the index's history.
The collapse was driven by broad-based selling in tech stocks, which accounted for a significant portion of the index's weight.
The severity of the drop forced the exchange to halt trading multiple times as circuit breakers were activated to stem the panic.
Market participants faced extreme volatility as liquidity evaporated across key technology names.
This move represents a dramatic reversal from the index's recent record highs, highlighting the fragility of the rally that had carried the market to new peaks.