StocksMedium•13 October 2026•
1 min read
Kospi Plunges 7% as Oil Shock Fears and Tech Selloff Hit Asian Markets
Key Facts
1South Korea's Kospi plunged 7% to its lowest level since July 2023 amid a broad selloff in semiconductor stocks.
2BlackRock downgraded US stocks to neutral as the 10-year Treasury yield approached 5.25%.
3Saudi Arabia is examining plans to increase crude export pipeline capacity by 1.2 million bpd.
South Korea's Kospi plunged 7% to its lowest level since July 2023, led by a broad selloff in semiconductor stocks. According to investinglive.com, Asian markets faced heavy pressure as Japan’s Nikkei fell 2.6% and China’s ChiNext dropped 3%, driven by concerns over the durability of the AI rally and potential oil supply disruptions.
BlackRock downgraded US stocks to neutral as the 10-year Treasury yield approached 5.25%. Simultaneously, Saudi Arabia is examining plans to increase crude export pipeline capacity by 1.2 million bpd to bypass regional maritime risks. Regarding major financial instruments, BLK closed at $1,083.92 and JPM closed at $334.30 on October 12, 2026, while GS closed at $893.95 on the same date.