South Korean KOSPI Falls Over 8 Percent on Fed Fears
The KOSPI benchmark dropped 8.3 percent on Monday after robust U.S. jobs data fueled expectations for further interest rate hikes. Trading was briefly halted by circuit breakers as chipmakers Samsung Electronics and SK Hynix saw significant declines amid a broader regional technology rout.
South Korea's KOSPI index plunged 8.3% to 7,484.41 on June 8 as robust United States jobs data triggered a global tech rout. The benchmark's steepest daily decline since March 4 follows a 76% rise in 2025, which marked the top performance among major global markets. Investors are reassessing the AI-driven rally as rising bond yields and hawkish Federal Reserve expectations pressure overextended semiconductor valuations.
Trading halted for 20 minutes on Monday morning after the index plummeted soon after the open. The KOSPI is now 15% below its June 2 peak of 8,801.49.
