South Korea's KOSPI plunges nearly 9%
South Korea's KOSPI index fell nearly 9% amid a tech stock rout. The decline was driven by concerns over the Federal Reserve's (Fed) tightening of monetary policy. Investors fear that Fed interest rate hikes could slow global economic growth and negatively impact tech company earnings. The sharp drop in KOSPI reflects panic in regional markets. This was reported by Qazaqyia.kz citing Reuters.