South Korea's KOSPI index fell 14.5%, marking its steepest drop since 2008, driven by deepening credit stress in the AI sector and concerns over energy supply due to stalled Strait of Hormuz talks. Major tech stocks like Samsung Electronics and SK Hynix dropped 17-24%, while credit spreads in the technology sector widened significantly. Additionally, the U.S. Strategic Petroleum Reserve dropped 30.5% from last year, heightening market worries. The MSCI November review may remove Strategy from its index, and Strategy has also slowed Bitcoin purchases, adding to cross-market risks for investors. Markets are now watching how long energy risk premiums will last and whether tech credit pressures will spread further.
The KOSPI plunge and AI credit stress provide context for cryptocurrency market activity on Pluang. Of 50 major cryptocurrencies priced on Pluang, 4 rose and 45 fell today. ENJ (Enjin Coin) dropped 7.46% to Rp475 with 90% sell orders, SUSHI (SushiSwap) fell 7.38% to Rp3.821 with 72% sell orders, and VET (VeChain) declined 7.31% to Rp126 with balanced buy and sell activity. Data is as of Oct 23, 2026 04:03 WIB.
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