South Korean stocks experienced a sharp decline, with the Kospi index plummeting nearly 10% from its record high. Chip giants SK Hynix and Samsung Electronics led the sell-off as investors grew concerned about an overstretched rally. This downturn follows a period of strong gains, with market watchers now closely awaiting Micron Technology's earnings for insights into the semiconductor sector's health. Foreign investors offloaded significant holdings amid rising market volatility.
Many people who aren’t retail investors won’t even have a choice anyway. Their 401(k) will be tied up in speculative funds they don’t control. People’s retirements will shield the rich, all part of the plan