Equities retreat amid tech unwinding, with South Korea’s Kospi plunging 10% despite a 95% year-to-date gain.
US stocks opened sharply lower as a tech-led selloff erased recent gains, with the S&P 500 and Nasdaq poised for significant declines. The unwinding of tech investments emerged as a key driver, overshadowing resilience to US tariffs and Middle East tensions.
South Korea’s Kospi dropped 10% in today’s session, though it remains up nearly 95% for the year. The greenback strengthened, but caution over the yen’s movement added to market unease, signaling a shift in risk sentiment.
No immediate market reaction details were provided, but the broader pullback reflects growing investor caution amid shifting macroeconomic pressures.