Shares in major chip firms have fallen sharply in the US and Asia as a sell-off in artificial intelligence-related stocks deepened. Trading on South Korea's benchmark Kospi index was temporarily paused on Tuesday morning after sliding by 8%. The index fell further after the 20-minute halt was lifted, trading around 10% lower.
The slump on the Kospi was led by technology firms, with Samsung Electronics and SK Hynix both falling by more than 10%. This follows AI chip giant Nvidia's 5% fall in New York on Monday, which resulted in Apple overtaking it as the world's most valuable listed company.
The tech-heavy Kospi has been halted eight times this year under a circuit breaker mechanism. Japan's Nikkei 225, also dominated by tech companies, was almost 4.5% lower on Tuesday morning.