South Korea’s benchmark KOSPI index crashed nearly 10% on Tuesday, triggering a 20-minute trading halt as a massive sell-off engulfed the technology sector.
The sharp decline extended the index's drop from recent record levels, marking a severe reversal for the market.
The turmoil was not isolated to Seoul.
Asian equity markets staged a sharp reversal from record levels on Tuesday, driven by aggressive profit-taking in the technology sector.
The sell-off was particularly severe in South Korea, where the Kospi index tumbled amid broad-based selling pressure.
Cityam reports that fresh fears of a tech sell-off are intensifying as South Korean stocks plunge.
The outlet highlights the severity of the drop, noting that the technology sector has been the primary driver of the market's downward momentum.
This development underscores the vulnerability of high-growth tech valuations to sudden shifts in investor sentiment.