Tech sell-off widens as South Korea index plunges

redwood

Remember: don't panic and hopefully you're not leveraged

boilerupnc

https://archive.ph/f0mzg

dmix

Is this one of those situations where it spiked rapidly and now it’s going back down slightly? Or is it a real drop?

yongjik

Eh looks like it already recovered about half of the plunge? KOSPI fell from 8,048 to 7,477, but now it's back to 7,807.

taurath

YTD Kospi is +173%, after the sell-off, compared to +10% for the Nasdaq. Not exactly... worrying territory there. But yeah, I'm sorry this whole circular financing bubble with AI should crash. As someone who's in community with people outside tech, things are pretty fucking dire and a correction in asset prices would probably be better long term.

wewewedxfgdf

Nice time to buy. Pick up all that juicy coin when it bounces back. There's plenty of steam left in the AI boom yet.

rvz

This is a correction for ants and is nothing compared to what will happen when the AI bubble collapses.

tqi

I wonder how the proposal for 24x5 trading would affect how international selloffs like this ripple through US markets.

Fordec

Isn't this just a response to the Friday drop which happened around 5 AM Saturday South Korea time, well after their Friday bell?

cmiles8

There’s some early signs of the wheels starting to come off the bus of the “irrational exuberance” that’s been fueling the AI bubble. Still early days but a lot of folks positioning to protect themselves from the blast radius which is what is driving market volatility. Talk in many circles and back rooms with the ultra-wealthy has shifted rapidly from “how do I get in on this AI action” to “how do I protect myself from collateral damage when this thing blows up.”

jnakano89

KOSPI isn't really a country index, it's more like a concentrated chip/HBM ETF in disguise. Samsung Electronics + SK Hynix alone are roughly 30-40% of the index by market cap, and both move on the same AI-capex thesis as Nvidia/TSMC. So it seems to be the same trade pulling back expressed through a country index that's levered to it.