Stocks dip sharply lower as AI leaders call for industry slow down
Seoul stocks opened sharply lower Tuesday as investors sold off tech heavyweights following calls from artificial intelligence (AI) leaders that the AI industry should slow down. The benchmark Korea Composite Stock Price Index (KOSPI) was down 34.69 points, or 0.52 percent, to 6,649.68 as of 9:16 a.m. Overnight, stocks in the United States closed lower on a slump in tech stocks, as investors…
Seoul stocks experienced a sharp decline on Tuesday as investors sold off tech giants in response to calls from AI industry leaders for a slowdown in AI development. The Korea Composite Stock Price Index (KOSPI) fell 34.69 points, or 0.52 percent, to 6,649.68 by 9:16 a.m. Overnight, U.S. stocks also suffered, with the S&P 500 dipping 0.48 percent and the tech-focused Nasdaq declining 0.56 percent.
The rise in U.S. bond yields, reaching a significant 5 percent threshold, further unsettled investors. Market leaders in Seoul were trading unevenly, with Samsung Electronics remaining flat, while SK hynix saw a slight 0.24 percent increase. Battery manufacturer LG Energy Solution declined 0.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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