Chip Stock Selloff Hits Global Equities as Korea's Kospi Sinks 9.99%

On June 23, 2026, a selloff in technology stocks led by chipmakers spread across global equity markets, pushing South Korea's Kospi index down 9.99% (910.71 points) to close at 8,203.84 and triggering a market-wide circuit breaker. The MSCI All Country World Index fell 0.6%, and U.S. stock futures weakened, with Nasdaq 100 contracts down about 2% and S&P 500 and European futures off more than 1%. A sub-index of Asian tech stocks dropped nearly 5%, ending an eight-day winning streak. The move reflected a retreat, flagged by strategist Neil Campling, in the chipmakers that had been at the forefront of an unprecedented AI-driven rally.