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Asian chip stocks lead market falls
Asian markets experienced sharp declines today, led by a 7.4% drop in the Korea Composite Stock Price Index (Kospi), reaching its lowest level since July. Shares of leading semiconductor companies like Samsung and SK Hynix fell by as much as 8.8%. Stock indices also declined in Japan, China, and Taiwan, with declines in chip and technology stocks amid a widespread sell-off following previous gains linked to the rise of artificial intelligence. This downturn occurred amid falling oil prices and a rising dollar, as investors awaited upcoming U.S. inflation data.
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