Kospi crashes 11%, plunges 43% from peak after skyrocketing rally. Is the AI bubble going bust?
- Posted on July 29, 2026
- By Business News Today
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- 1 min read
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Kospi crashes 11%, plunges 43% from peak after skyrocketing rally. Is the AI bubble going bust?
South Korea's Kospi index crashed over 11% on Wednesday, extending its drop to 43% from its June peak into technical bear market territory. The sharp plunge, triggered by earnings from chipmaker SK Hynix that missed lofty AI-fueled market estimates, prompted government reviews into market stabilisation measures.
