South Korea’s benchmark Kospi index sinks more than 7% as a sell-off of technology shares deepens

South Korea’s benchmark Kospi index dropped 7.1% in early trading on Thursday, falling to 5,584.83 amid a deepening sell-off of technology shares. Major components were heavily impacted, with Samsung Electronics sliding 8.2%.

The regional market decline followed a downturn in U.S. stocks, which was triggered by hotter-than-expected inflation data in the United States. This economic indicator intensified a broader downward pressure on technology sectors internationally.