#KOSPIDropsOver6%
About KOSPIDropsOver6%
On Oct 13, South Korea’s KOSPI fell over 6% intraday, below 6,000. The exchange triggered a sell-side sidecar, pausing affected program sell orders for 5 minutes. Samsung and SK Hynix led losses amid heavy foreign net selling, following US chip stock weakness. Markets are reassessing AI investment returns and memory supply-demand prospects. BitMine chair Tom Lee said Korean equity losses could spill into crypto through margin-driven liquidations, but the actual impact remains unverified.
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STOCKS GOT A BRAKE. CRYPTO DIDN’T. 🛑
South Korea’s KOSPI plunged ~6% Tuesday, triggering a curb on program selling as chip stocks sank.
Meanwhile, crypto logged $771M in 24h liquidations; $685.6M came from longs. $ZEC fell 10.4% in a Monday-evening market snapshot.
Two markets under pressure. One can briefly slow automated selling. The other liquidates leveraged positions around the clock.
#ZEC #Liquidations #Macro #DailyOrbit
STOCKS HIT THE BRAKES. CRYPTO KEPT MOVING.
South Korea’s KOSPI dropped around 6% on Tuesday, triggering a temporary curb on program selling as chip stocks came under pressure.
At the same time, crypto recorded $771M in liquidations over 24 hours, with $685.6M coming from long positions. $ZEC also dropped 10.4% in a Monday-evening market snapshot.
#DailyOrbit
📉 South Korea’s KOSPI fell -5.46% to close at 6,035.35, its fifth consecutive decline, as semiconductor stocks collapsed.
Samsung Electronics (005930.KS) fell -7.39% and SK Hynix (000660.KS) dropped -10.09%.
Foreign investors dumped a net ~4.5 trillion won (~$3.4 billion) in a single session, the heaviest selling in months.
The selloff followed Broadcom CEO Hock Tan likening AI investing to “casino gambling,” combined with reports that China’s CXMT has made key progress on higher-density DRAM architecture.
Asian equities erased more than $800 billion in market value as the AI trade faced its sharpest pullback in months.
By comparison, the Philadelphia Semiconductor Index (SOX) remains up ~72% year-to-date despite a multi-day losing streak.
The AI boom is meeting its first real competition test.
🚨TODAY: Global AI stock SELL OFF deepens as U.S. semiconductor stocks head for a SIXTH straight decline.
The selloff signals a MAJOR shift in sentiment toward the AI trade, as rising interest rates threaten an infrastructure spending boom larger than the historic U.S. railroad expansion, per Reuters.
South Korea's KOSPI plunges 6%, Japan's Kioxia crashes 13%, while memory and storage stocks tumble:
Western Digital ($WDC): -6.5%
Seagate ($STX): -6.1%
SK Hynix ($SKHY): -4.8%
Micron ($MU): -4.7%
SanDisk ($SNDK): -4.1%
BlackRock has also downgraded U.S. equities to "neutral", warning of AI-related volatility as investors question whether massive AI investments can justify elevated valuations.
Coin Bureau
🚨MAJOR: $14 TRILLION asset manager BlackRock ends its SIX-YEAR bearish stance on U.S. Treasuries while downgrading U.S. stocks to NEUTRAL.
The world's largest asset manager is now OVERWEIGHT short-term Treasuries as yields hit multi-decade highs.
BlackRock believes markets have priced in too many Fed rate hikes and warns of AI-related stock volatility, signaling a major shift toward bonds.
Memory manufacturer SK Hynix $SKHY collapses 10% on the South Korean KOSPI Index.
Micron $MU has fallen 5% today after completing the "return to normal" phase of the bubble.
During the last earnings call, Micron had warned gross margins would be flat next quarter.
Memory manufacturers have always collapsed when gross margins peak and begin rolling over.
The difference this time is this memory bubble is 10x larger than all past memory cycles.
Financelot
BREAKING: Micron $MU beats earnings estimates but reports a declining gross margin guidance of 86% 🚨
Memory stocks have always begun their cyclical decline when gross margins peak.
