The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid intensifying pressure on the global technology sector, the iShares MSCI South Korea ETF (EWY) plunged 14% in a single day, marking its most significant decline since the COVID-19 market crash in March 2020. According to reports, the ETF's price collapsed from approximately $204 to $175.19 within a single session. This sell-off was primarily driven by broader weakness in the semiconductor industry, triggered by a cautious financial outlook issued by Broadcom.
This volatility follows five consecutive days of sector-wide declines in the chip industry, with the tech-heavy South Korean market proxy being particularly vulnerable. Per market data, peer instrument Broadcom (AVGO) closed at $392.16 on June 9, 2026, after hitting a session low of $370.33. The sharp move reflects growing investor anxiety regarding the sustainability of the AI boom and cooling demand for consumer electronics in major Asian manufacturing hubs.
Sign in to access this content
Sign InTraders should monitor support levels for EWY following the breach of the $180 mark, while keeping a close eye on AVGO, which stood at $392.16 as of the June 9, 2026 close. While the upcoming economic calendar shows no major domestic catalysts for South Korea in the next week, global sentiment will likely be shaped by upcoming US employment data and Fed official speeches, which will dictate the risk appetite for emerging market assets.