South Korea's Kospi Drops Nearly 5% as Some AI Stocks Swoon, While Oil Keeps Climbing South Korea's benchmark index, the Kospi, tumbled nearly 5% on Monday, dragged down by some of the country's most valuable tech stocks tied to artificial intelligence.
The decline is noteworthy because Asian shares were mostly higher across the board. Japan's markets were closed for a holiday, but U. S.
futures were mixed, suggesting that the impact of the downturn was localized to Korea and its AI linked stocks. Meanwhile, oil prices continued their upward march, with Brent crude rising 2. 6% to $90.