- South Korea's KOSPI plunged again as the AI-fueled rally unraveled, wiping roughly $2.18 trillion off the market and erasing nearly 40% from a recent peak.
- Leveraged retail bets—notably single-stock leveraged ETFs—were forcefully unwound, amplifying panic selling and leaving small investors badly hit.
- Regulators and the finance minister are scrambling (an apology was issued) and may tighten rules, while big chip names like SK Hynix and Samsung tumbled despite strong earnings.
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