KOSPI, KOSDAQ fall in tandem with plunge in U.S. stock markets

[Anchor]
With the New York stock market plunging due to renewed recession concerns, our stock market has also been hit directly.

Both the KOSPI and KOSDAQ indexes started with a drop of nearly 3%, continuing their downward trend.

Connect reporters to find out more.

Reporter Ryu Hwan-hong, how much did you fall now?

[Reporter]
The KOSPI is down 3% and the KOSDAQ index is down 4%.

The decline is deepening in the afternoon.

The KOSPI opened at 2,589.94, down 2.8% from yesterday, and the KOSDAQ index also started at 738.59, down 2.86%.

Foreigners and institutions are net sellers of 1.2 trillion won in the KOSPI market, while individuals are net sellers of 90 billion won in the KOSDAQ market.

Net selling is getting bigger.

Most of the top market cap stocks are on the decline.

Samsung Electronics is down 3%, SK Hynix is down 8%, and Hanmi Semiconductor is down 7%.

Samsung Electronics' 70,000 won level collapsed in the market, and SK Hynix's 160,000 won level collapsed.

It seems to have been directly hit by the plunge in the New York Stock Exchange.

In particular, the fall in domestic semiconductor stocks is deepening as the stock price of Nvidia, a major AI semiconductor stock, has plunged.

Last night, concerns of a slowdown resurfaced on the New York Stock Exchange, with all three major indexes - the Dow, Nasdaq and the S&P 500 - recording sharp declines.

The tech-heavy Nasdaq Composite plunged more than 3%.

Nvidia is down nearly 10%, AMD is down 8% and Broadcom is down about 6%.

The Philadelphia Semiconductor Index is about 8% behind.

The biggest drop in about a month has been made since the 5th of last month, when the fear of R, or recession, recorded a big drop.

Last month, the U.S. manufacturing purchasing managers' index fell below market expectations, raising concerns about slowing growth again.

At the same time, the traditional weakness of the stock market in September also froze investor sentiment.

The market predicted that domestic semiconductor stocks will continue to dance this week as Nvidia shares plunge and surge.

However, as semiconductor stocks have fallen a lot recently, there are many predictions that they will move sideways by consolidating the bottom rather than falling further.

As the stock price plunged, the won-dollar exchange rate also rose, starting at 1,343.2 won against the U.S. dollar in Seoul's foreign exchange market.

It's moving at 1,342 won, which is a bit lower.

I'm YTN's Ryu Hwan Hong.