South Korea stocks plunge as AI boom fades

South Korea's KOSPI index fell as much as 12.6% on Wednesday, extending a two-day rout that has erased about $2.18 trillion in market value. The sell-off, driven by waning interest in chipmakers and leveraged ETFs, is set to become the steepest monthly drop on record. Finance Minister Koo Yun-cheol apologized for allowing single-stock leveraged ETFs and announced further curbs to stabilize markets.