MSCI Emerging Markets Index Drops 3.6% to Lowest Level Since April

Asian tech selloff drags MSCI EM Index down 3.6% to April lows. KOSPI plunges nearly 11% as chip weakness spreads, while European markets remain stable amid falling oil prices.

Woofun AI reports that the MSCI Emerging Markets Index declined 3.6% by 4 p.m. Beijing time, marking its largest single-day drop since late June and reaching its weakest point since April. The sell-off was driven by weakness in Asian technology stocks, with South Korea’s KOSPI index falling nearly 11% after trading halts occurred. Major chipmakers Samsung Electronics and SK Hynix both saw their stock prices decrease by more than 13%, spreading negative sentiment across sectors.

Meanwhile, European stock markets and currencies avoided significant selling pressure due to declining oil prices.