Overview
- Heavy losses in US tech and a sharp post‑IPO drop in SpaceX set off a global rout that spread to Asia and Europe and prompted a rush into safer assets.
- South Korea’s Kospi plunged about 9–10% as SK hynix and Samsung led a memory‑chip sell‑off that amplified declines across regional markets.
- Major chip and tech names slid—examples cited include Micron, Nvidia and Intel—raising doubts that massive AI spending will easily convert into sustained profits.
- Oil prices fell after tanker traffic resumed through the Strait of Hormuz, which eased one source of market stress and helped risk assets recover some losses by mid‑day on Thursday.
- Markets showed a partial rebound after stronger‑than‑expected Micron results, but investors remain focused on upcoming semiconductor earnings and central bank signals to judge whether this is a short correction or a deeper re‑rating.