South Korea's KOSPI plunges more than 8% in new tech rout

AI Summary

South Korea's KOSPI index plunged over 8% amid another tech sector downturn, continuing the volatile market trend seen during the week. The selloff in tech shares coincided with a drop in crude oil prices following news about an attack on a vessel in the Strait of Hormuz.

Asian tech stocks also sank on Friday as the rollercoaster ride that has characterised the week continued into the weekend, while crude prices edged back down after a brief rally sparked by news of an attack on a ship in the Strait of Hormuz.