SAMSUNG STOCK PLUNGES NEARLY 10 % AS KOSPI TRIGGERS CIRCUIT BREAKER ON CHINA CHIP THREAT AND HOT US INFLATION

What happened: Samsung Electronics shares plunged nearly 10% on Thursday, leading a South Korean sell-off that triggered circuit breakers on the Kospi and Kosdaq. Samsung closed down 9.5% and SK Hynix dropped 11.1%. Key numbers: Samsung closed down 9.5%, SK Hynix 11.1%. Kospi closed down 454.59 points, or 7.57%, at 5,554.22. Why it matters: The drop was driven by fears of Chinese memory competition, rising U.S. rate expectations and doubts about the AI boom. Samsung and SK Hynix account for more than half of the market's value, so their moves hit the index hard. Coverage: 3 outlets in 24h

Samsung Electronics shares plunged nearly 10% on Thursday, leading a South Korean sell-off that triggered circuit breakers on the Kospi and Kosdaq. Samsung closed down 9.5% and SK Hynix dropped 11.1%.

The drop was driven by fears of Chinese memory competition, rising U.S. rate expectations and doubts about the AI boom. Samsung and SK Hynix account for more than half of the market's value, so their moves hit the index hard.