Tech selloff drags Nasdaq 100 futures over 2% lower after Korea’s KOSPI plunges 10% and triggers circuit breaker

On June 23, South Korea’s benchmark KOSPI index plunged 10% and triggered a circuit breaker after reports that Samsung Electronics and SK hynix may slow the expansion of AI memory chip capacity. The shock rippled through global tech shares, with Nasdaq 100 futures down more than 2% and S&P 500 futures off over 1%, while Dow Jones futures slipped about 0.4%. The MSCI Asia Pacific Information Technology Index fell nearly 5% and India’s Nifty IT index dropped as much as 2.34%. Softer oil prices and easing Middle East tensions failed to offset renewed worries about high tech valuations tied to AI spending.