EL7.AI
StocksUpdated×2•Originally published 22 June 2026•Updated 23 June 2026•
2 min read

Global Selloff Deepens: Korea’s Kospi Plunges 10% as Sadot Group Sinks 43%

Digital illustration of a metal press labeled 'Leverage Risk Weight' crushing a SpaceX document on an orange background.

Key Facts

1Leveraged ETFs tracking SpaceX saw sharp declines exceeding 32%, reflecting intense selling pressure.
2Sadot Group Inc. (SDOT) shares plunged 42.83% to close at $9.25 amid weak buying interest.
3The inverse SMCI ETF (SMCZ) declined, indicating a strong underlying performance for Super Micro Computer (SMCI).

Amid a violent selloff sweeping global technology markets, South Korea's Kospi index plunged 10%, reflecting growing investor panic toward high-risk assets. Simultaneously, leveraged ETFs tracking SpaceX recorded declines exceeding 32%, while shares of Sadot Group (SDOT) plummeted 42.83% to close at $9.25 due to a significant lack of buying interest. Conversely, the inverse SMCI ETF (SMCZ) declined, suggesting a resilient underlying performance for Super Micro Computer (SMCI) despite the broader market turmoil.

The crash in Asian markets reinforces fears of a broader tech sector downturn, as small-cap firms like Sadot Group struggle under tightening monetary conditions, evidenced by the Bank of Japan raising interest rates to 1% on June 16 per market data. In contrast, Super Micro Computer (SMCI) showed relative strength, closing at $30.66 on June 18, 2026, according to market data, diverging from the negative sentiment impacting both the space sector and Korean equities. This regional instability has increased pressure on global funds to reduce exposure to emerging tech markets.

Investors should watch for stabilization in SDOT, which settled at $16.18 as of the June 18, 2026 close, after hitting a daily low of $14.04. Upcoming U.S. Retail Sales data remains a critical catalyst that could determine if the Asian contagion spreads further into Western small-cap equities. For the SpaceX-linked SPCX, which stood at $185.00 at the June 18, 2026 close, monitoring volume levels will be essential to gauge if the current bearish momentum will persist into the next trading cycle.