From Seoul to Wall Street, the Korean Butterfly Effect Takes Grip

South Korea's KOSPI plunge triggered a global tech selloff, with the Nasdaq 100 falling 3.3% and semiconductor stocks dropping 8%. The market correction exposed excessive leverage and concentrated positioning in AI-related stocks. While fundamentals remain strong, the market has priced in years of uninterrupted growth, leaving little room for disappointment. Micron's upcoming earnings will be critical in determining whether this is a temporary correction or a broader reassessment of AI valuations.