🚨🇰🇷BREAKING: South Korea's entire stock market just got liquidated, not just its chip stocks. ₩488 trillion, $328 billion wiped out today. Trading was halted for 20 minutes after an 8% crash.

Samsung fell 10.35%. SK Hynix fell 13.94%. SK Square fell 16.47%. LG Innotek fell 20.2%. Those numbers alone would explain a semiconductor selloff. They don't explain what happened everywhere else.
Hyundai Motor is down almost 3%. Doosan Enerbility down nearly 7%. LG Chem is down close to 8%. Hanwha Aerospace down almost 9%. Autos, chemicals, shipbuilding, defense, energy, all bleeding the same day, none of them tied to AI chip demand.
Here's the mechanism. Samsung and SK Hynix alone drove roughly 70% of this market's gains this year. When two stocks carry that much of an index and they crack at the same time, funds holding leveraged positions get margin calls. To cover them, they don't sell the stock that's crashing; they sell whatever's still liquid. That's why a defense contractor with zero exposure to chip demand fell just as hard as SK Hynix today.
This wasn't 40 sectors independently deciding their fundamentals broke on the same afternoon. It was two stocks breaking and taking the collateral down with them.