Seoul opened sharply lower, KOSPI down 3.36%, as AI infrastructure spending concerns hit chip stocks ahead of the US midterms. Samsung fell 4.59% and SK hynix 5.1%, with Nasdaq down 1.07% overnight. T

What happened: South Korean stocks opened sharply lower Tuesday, with the KOSPI weighed down by lingering concerns over massive spending on artificial intelligence infrastructure ahead of the US midterm elections. Key numbers: KOSPI fell 143.89 points, or 2.46 percent, to 5,715.19 at the open. Nasdaq Composite closed 1.07 percent lower and the S&P 500 0.51 percent lower, while the Dow Jones Industrial Average rose 0.41 percent. Oil prices fell. Why it matters: Tech and AI shares remained shaky in the overnight US session, and investors were focused on the US midterm elections. Coverage: 3 outlets in 24h

South Korean stocks opened sharply lower Tuesday, with the KOSPI weighed down by lingering concerns over massive spending on artificial intelligence infrastructure ahead of the US midterm elections.

Tech and AI shares remained shaky in the overnight US session, and investors were focused on the US midterm elections.