Chip giants plunged more than 5%! The South Korean Kospi index plummeted 4.8% from its historical high triggering a circuit breaker, with Micron's financial report potentially becoming a litmus test for the stock market.

The Zhitong Finance APP noticed that due to investors once again worrying about excessive gains, selling off shares of chip giants, the South Korean stock market fell significantly from historical highs. The South Korean composite stock price index (Kospi) fell as much as 4.8%, with both Samsung Electronics and SK Hynix falling by more than 5%.