What's the story

A global sell-off in semiconductor stocks has erased over $500 billion in market value. The sell-off affected both Wall Street and Asia simultaneously, as investors cashed in their profits amid concerns of high valuations. South Korea's KOSPI index, which has been the biggest gainer among all Asia-Pacific indices, fell over 6% on Wednesday. Samsung Electronics and SK Hynix led the losses with declines of up to 6% during initial trading hours.

Market impact

Japanese and Taiwanese markets hit hard

In Japan , Advantest Corp. saw its shares plummet by over 10%, dragging the Nikkei 225 index down with it. Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chip manufacturer, also witnessed a decline of over 3%. The broader semiconductor secto

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