Global Market: KOSPI drops over 2% as Samsung, SK Hynix slide on yield concerns

The KOSPI, South Korea's main stock market index, dropped over 2% in a single day. This decline was largely due to losses in two of the country's biggest companies: Samsung Electronics and SK Hynix. These companies are sensitive to changes in interest rates and bond yields, and higher yields have made investors more cautious about investing in technology stocks. As a result, foreign investors sold their shares in Korean companies, adding to the market's downward pressure.

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Higher bond yields are weighing on risk appetite, leading to a decline in the KOSPI. This is due to concerns over the impact of rising yields on the economy and stock market.

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