A Top Strategist Says the AI Trade Is Cooling, but Chipmakers Are Quietly Winning

South Korea's Kospi fell nearly 10% in a 'Black Tuesday' selloff as foreign investors dumped semiconductor shares and circuit breakers were triggered. The move signals acute risk-off positioning and heavy pressure on a key technology-heavy emerging market index. The episode has market-wide implications given the scale of the decline and the concentration in semiconductors.

Analysis

South Korea's Kospi fell nearly 10% in a 'Black Tuesday' selloff as foreign investors dumped semiconductor shares and circuit breakers were triggered. The move signals acute risk-off positioning and heavy pressure on a key technology-heavy emerging market index. The episode has market-wide implications given the scale of the decline and the concentration in semiconductors.