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

What happened: Seoul stocks opened sharply lower, with the KOSPI down 335.8 points, or 5.59 percent, to 5,673.01, extending a six-session losing streak. Wall Street also closed lower overnight. Key numbers: KOSPI opened down 335.8 points, or 5.59 percent, to 5,673.01. S&P 500 fell 1.11 percent. Nasdaq fell 1.88 percent. U.S. Why it matters: Concerns over the sustainability of AI and hotter-than-expected U.S. inflation dampened investor sentiment, and skepticism remains over whether AI investment can generate expected returns.

Seoul stocks opened sharply lower, with the KOSPI down 335.8 points, or 5.59 percent, to 5,673.01, extending a six-session losing streak. Wall Street also closed lower overnight.

Concerns over the sustainability of AI and hotter-than-expected U.S. inflation dampened investor sentiment, and skepticism remains over whether AI investment can generate expected returns.