Kospi Plunges 7.8% as Hot Inflation Fuels Fed Tightening Fears
Updated
Updated · CNBC · Oct 14
Kospi Plunges 7.8% as Hot Inflation Fuels Fed Tightening Fears
2 articles · Updated · CNBC · Oct 14
Summary
South Korea's Kospi sank more than 7.84% on Thursday, with SK Hynix and Samsung Electronics leading a broader sell-off in AI-linked technology shares.
Hotter-than-expected U.S. September inflation data sharpened fears the Federal Reserve may tighten policy more aggressively before year-end, pressuring risk assets globally.
U.S. markets had already turned lower: the Nasdaq fell 1.9%, the S&P 500 lost 1.1% and Dow futures later edged up 192 points while Nasdaq-100 futures dropped 1.07%.
Japan's Nikkei slid 4.4%, Hong Kong's Hang Seng fell 1% and China's CSI 300 lost 1.41%, while investors awaited U.S. producer prices, retail sales, jobless claims and more earnings.