AI crash coming closer? South Korea’s Kospi down 8%, triggers trading halt

South Korea's Kospi plunged 8 percent and triggered a trading halt as risk appetite around high-flying AI and tech names turned fragile ahead of Micron Technology's quarterly earnings this week. Foreign investors offloaded more than 4 trillion won (about $2.6 billion) worth of Kospi shares by midday, while Korean regulators voiced regret over leveraged ETFs tied to Samsung Electronics and SK Hynix that have magnified price swings. Adding to the headwinds, markets are repricing for a faster US Fed rate-hike cycle under newly appointed Chair Kevin Warsh, lifting the dollar to a one-year peak and weakening emerging Asian currencies broadly.