PANews reported on November 5th that South Korean stocks plunged more than 4% on Wednesday, continuing the trend of a sharp decline in Wall Street driven by concerns about overvaluation and an artificial intelligence bubble. The KOSPI index fell 135.79 points (3.29%) within the first 15 minutes of trading, dropping below 4000 points again after more than a week of gains. Market leader Samsung Electronics fell 4.29%, its chip manufacturing rival SK Hynix fell 4.78%, and Hyundai Motor and Hanwha Aerospace both fell more than 3%. Overnight, major U.S. stock indexes closed lower, with blue-chip tech stocks such as Nvidia and Palantir declining due to concerns about an AI bubble, and Wall Street executives suggesting the market might pull back for further gains.PANews reported on November 5th that South Korean stocks plunged more than 4% on Wednesday, continuing the trend of a sharp decline in Wall Street driven by concerns about overvaluation and an artificial intelligence bubble. The KOSPI index fell 135.79 points (3.29%) within the first 15 minutes of trading, dropping below 4000 points again after more than a week of gains. Market leader Samsung Electronics fell 4.29%, its chip manufacturing rival SK Hynix fell 4.78%, and Hyundai Motor and Hanwha Aerospace both fell more than 3%. Overnight, major U.S. stock indexes closed lower, with blue-chip tech stocks such as Nvidia and Palantir declining due to concerns about an AI bubble, and Wall Street executives suggesting the market might pull back for further gains.
Concerns about an AI bubble send South Korean stocks plunging 4%.
PANews reported on November 5th that South Korean stocks plunged more than 4% on Wednesday, continuing the trend of a sharp decline in Wall Street driven by concerns about overvaluation and an artificial intelligence bubble. The KOSPI index fell 135.79 points (3.29%) within the first 15 minutes of trading, dropping below 4000 points again after more than a week of gains. Market leader Samsung Electronics fell 4.29%, its chip manufacturing rival SK Hynix fell 4.78%, and Hyundai Motor and Hanwha Aerospace both fell more than 3%. Overnight, major U.S. stock indexes closed lower, with blue-chip tech stocks such as Nvidia and Palantir declining due to concerns about an AI bubble, and Wall Street executives suggesting the market might pull back for further gains.
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