South Korea’s benchmark Kospi index sinks more than 7% as tech sell-off deepens

HONG KONG (AP) — South Korea's benchmark Kospi index sank more than 7% on Thursday as a sell-off of technology shares deepened after U.S. stocks fell on hotter-than-expected inflation data. The Kospi index lost 7.1% in early trading to 5,584.83. Samsung Electronics slid 8.2% and South Korean memory chipmaker SK Hynix plunged 10.8%. Japan's Nikkei 225 fell 3.9% to 65,119.51. OpenAI investor SoftBank Group tumbled 9.1% while chip equipment maker Tokyo Electron dropped 6.3%. The declines in Asian shares followed losses on Wall Street on Wednesday. The S&P 500 dropped 1.1%, the Dow Jones Industrial Average dipped 0.1%, and the technology-heavy Nasdaq composite slipped 1.9% as artificial intelligence-related stocks fell. Nvidia lost 3.