South Korean Stocks Tumble 6% on AI Chip Jitters
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- South Korean stocks tumbled 6% as AI jitters pummeled chipmakers, with SK Hynix and Samsung dragging the Kospi lower according to Seeking Alpha.
- Asian stocks were set to decline as traders weighed AI concerns and Warsh-related developments, while the dollar eased and the yen gained ahead of US payrolls data per Bloomberg's Markets Wrap.
Why it matters: SK Hynix and Samsung — both bellwethers for AI memory demand — led a 6% Kospi slide, the clearest signal yet that the AI trade is actively unwinding across the Asian semiconductor complex on the eve of the US payrolls report.
