South Korea
Block Media
Kospi Falls 6%, Triggers Circuit Breaker as Bitcoin Drops to $75,000, $1 Billion in Longs Liquidated
- Kospi fell over 6% intraday, briefly breaking below 5,000 points and triggering a circuit breaker; Kosdaq dropped more than 5%, both driven by a U.S.-originated sell-off in AI semiconductor stocks.
- Bitcoin (BTC) fell to the $75,000 range, with over $1 billion (roughly 1.3548 trillion won) in long positions liquidated across derivatives markets.
- The South Korean government held an emergency market situation review meeting on November 6 and announced market stabilization measures, including adjusting securities firms' credit loan collateral ratios starting November 9.