(LEAD) Seoul stocks open sharply lower on lingering concerns over AI, U.S. inflation

What happened: Seoul stocks opened sharply lower on concerns about AI sustainability and hotter-than-expected U.S. inflation. The KOSPI fell 348.47 points, or 5.8 percent, to 5,660.34 as of 9:15 a.m., triggering a sell-side sidecar. Key numbers: KOSPI down 348.47 points, or 5.8 percent, to 5,660.34. S&P 500 fell 1.11 percent; Nasdaq fell 1.88 percent. U.S. Why it matters: The drop extended a losing streak to six consecutive sessions, and the bourse operator issued a sell-side sidecar soon after the open. Seoul chip giants moved in tandem with Wall Street tech firms.

Seoul stocks opened sharply lower on concerns about AI sustainability and hotter-than-expected U.S. inflation. The KOSPI fell 348.47 points, or 5.8 percent, to 5,660.34 as of 9:15 a.m., triggering a sell-side sidecar.

The drop extended a losing streak to six consecutive sessions, and the bourse operator issued a sell-side sidecar soon after the open. Seoul chip giants moved in tandem with Wall Street tech firms.