Overview
- Global equity markets moved into a phase of heightened volatility on June 23, 2026, with heavy losses led by technology and semiconductor stocks that spread from Wall Street to Asia and Europe.
- South Korea’s Kospi plunged about 9–10% as large sell-offs hit SK hynix and Samsung, and a broad chip-producers index fell roughly 7% after a multi-month rally.
- SpaceX has weakened sharply since its record June 12 IPO, losing around 16% in the days that followed and highlighting concentration risk tied to very large listings.
- Traders cited growing doubts that the vast capital being poured into AI will produce profits to justify current valuations along with rising expectations for higher U.S. interest rates and renewed geopolitical tensions.
- Investors are watching near-term catalysts closely: upcoming chip earnings, notably Micron’s results, and fresh central-bank comments that will help determine whether demand and earnings can support current tech valuations.