The South Korea Composite Stock Price Index (KOSPI) fell more than 8% on Monday. This prompted the stock market to halt trading for 20 minutes after a US-led semiconductor sell-off hit Asian markets.
The index fell by 8.4% to 7,477 points after the opening, which led to a power outage. Korea Securities Dealers Automated Rates (KOSDAQ) also fell by more than 7%.
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Why technology stocks led the crash
Samsung Electronics and SK Hynix shares fell about 10% on the day. The two chipmakers dominate the Kospi, so their losses dragged down the entire index.
The selling also extended to other Asian markets. Japan’s Nikkei 225 fell 3.4% as losses widened across the region. Market tensions were exacerbated by escalating tensions in the Middle East.
In addition, deflation has already gained momentum after the sharp sell-off on Wall Street. On Friday, the Nasdaq Composite Index fell 4.18% to 25,709.43, marking its largest single-day decline since April 2025.
Investors’ reaction to A Stronger than expected The US jobs report for May, prompting traders to reduce their expectations for an interest rate cut from the Federal Reserve this year.
The data pushed Treasury yields higher and intensified concerns about that High borrowing costs This could impact technology companies that make significant investments in AI infrastructure.
Cryptocurrencies remain stable as risk assets fluctuate
Cryptocurrencies broke out from a stock decline on Monday. Bitcoin (BTC) It traded near $63,020, Up by about 2.7% within 24 hours BeInCrypto Markets Data.
Ethereum (ETH) price rose nearly 6% to $1,680. The gains came after weeks of sharp losses in digital assets during the broader sell-off.
However, Bitcoin is still more than 45% below its October 2025 record of over $126,000. Continued outflows of Bitcoin exchange-traded funds (ETF) have weighed on prices.
The upcoming sessions may reveal whether cryptocurrencies or not Continue to resist The mood of risk aversion dominates global markets.
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