South Korean Government Responds to Record $2 Trillion Stock Market Rout
South Korea's stock market has experienced a significant downturn, with the KOSPI index dropping by as much as 12.6% in a single session, marking a record two-day fall. This decline has wiped out over 40% of the index's value from its peak just a month ago, resulting in a loss of approximately $2.18 trillion in market value. The downturn is attributed to a sell-off in shares of chipmakers, which had previously surged due to investments in artificial intelligence. The South Korean government, led by Finance Minister Koo Yun-cheol, is reviewing market stabilization measures, including regulations on single-stock leveraged ETFs, which are believed to have contributed to the market's volatility. Emergency meetings are being held to address the situation, and further curbs on leveraged products are being considered. 
