Tech market sell-off deepens amid fears over US inflation and AI debt
- An accelerating sell-off of AI-linked shares has hit global markets, as fears over rising inflation and future interest rate hikes spooked traders already wary of the heavily indebted sector.
- South Korea’s benchmark Kospi 200 index, which is heavily skewed towards the companies that make memory chips, fell more than 8% overnight to a six-month closing low, triggering circuit breakers that brought trading to a halt at various points.
- Some of those semiconductor stocks, such as SK Hynix and Samsung Electronics, plunged nearly 11% and 9.5%, respectively.
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- An accelerating sell-off of AI-linked shares has hit global markets, as fears over rising inflation and future interest rate hikes spooked traders already wary of the heavily indebted sector.
- South Korea’s benchmark Kospi 200 index, which is heavily skewed towards the companies that make memory chips, fell more than 8% overnight to a six-month closing low, triggering circuit breakers that brought trading to a halt at various points.
- Some of those semiconductor stocks, such as SK Hynix and Samsung Electronics, plunged nearly 11% and 9.5%, respectively.
Sources: Guardian