South Korea's KOSPI crashes nearly 8% on chip selloff
- Posted on July 2, 2026
- By Business News Today
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- 1 min read
South Korea's KOSPI crashes nearly 8% on chip selloff
South Korean stocks experienced a sharp decline of nearly 8% on Thursday, hitting their lowest point in over three weeks. This downturn was primarily driven by a global selloff in chipmakers, triggered by Meta Platforms' plans to offer computing power, sparking concerns about AI capacity. The Korean won also weakened against the dollar, while bond yields saw an increase.
