US stocks gave back their rally after the midterm elections as chipmakers and AI-linked shares tumbled. The cost of insuring SpaceX debt against default hit a record.
South Korea's main stock index dropped more than 5% on Thursday after the Democratic Party's midterm win raised fears of tighter AI rules. The won also weakened against the dollar.
South Korean shares rose, then fell, as the US midterm vote moved toward a Democratic win. Investors worried about tighter artificial intelligence rules, and the won weakened slightly.
The Korea Exchange paused program trading in KOSPI shares for five minutes after the index plunged. The drop followed the Democratic Party's win in the US midterms.