South Korean stocks plunged sharply on Tuesday, with the Kospi falling over 8% from record highs as investors sold off major chip stocks amid concerns that the market rally had become overstretched. SK Hynix dropped more than 11%, while Samsung Electronics fell over 8%, prompting the Korea Exchange to halt trading for 20 minutes through circuit breakers.
South Korea's Kospi index plunged over 8% on Tuesday, triggering a 20-minute trading halt by the Korea Exchange. Investors sold off major chip stocks like SK Hynix, which dropped 11%, and Samsung Electronics, down 8%, amid concerns about an overstretched market rally.
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