SK Hynix Seoul Shares Fall 7.82%, KOSPI Plunges Over 5%, Brent Crude Tops $90

Asian markets fell sharply, with South Korea's KOSPI index tumbling more than 5% and semiconductor giants SK Hynix Inc. – ADR and Samsung Electronics also posting steep declines.

Asian Markets Slide; Samsung, SK Hynix Tumble

South Korea's KOSPI fell 5.50% to 6,492.22 as investors dumped semiconductor stocks, with the benchmark index's losses widening throughout the session.

SK Hynix shares in Seoul fell 7.82% to 1,532,000 won, while Samsung Electronics dropped 6.33% to 251,500 won.

The selloff also hit SK Hynix's US-listed shares. The company's American Depositary Receipts fell 9.20% to $155.62 during Tuesday's US trading session and slipped a further 1.38% to $153.47 in after-hours trading.

Meanwhile, Japan's Nikkei 225 fell 2.42% to 65,826.62.

KOSPI Triggers Sell-Side Circuit Breaker as Market Crashes 5%

Korea Exchange activated a sell-side circuit breaker following a sharp drop in KOSPI 200 futures. According to Yonhap News Agency, program trading in KOSPI-listed stocks was halted for 5 minutes at 9:06 a.m. local time.

The sell-side circuit breaker is triggered when KOSPI 200 futures fall at least 5% within one minute, temporarily slowing program trading during periods of extreme market volatility.

US Futures Edge Lower, Oil Prices Climb

Dow futures fell 22.00 points, or 0.04%, to 53,381.00, while S&P 500 futures declined 3.75 points, or 0.05%, to 7,710.25. Nasdaq 100 futures dropped 47.25 points, or 0.16%, to 29,538.75.

In commodities, WTI crude rose 0.95% to $85.75 per barrel, and Brent crude gained 0.75% to $91.70 per barrel. Natural gas futures added 0.47% to $2.789 per million British thermal units.

Meanwhile, the US dollar index, which tracks the greenback against a basket of currencies, was at 99.661, up 0.02% on the day.

Trump Rules Out Iran Negotiations

President Donald Trump said Tuesday there are no negotiations with Iran and no plans for talks.

"There are no negotiations or conversations taking place with the Islamic Republic of Iran, and there are no plans for any," Trump said in a Truth Social post.

He also said the US naval blockade remains in effect and claimed the Strait of Hormuz is "open and functioning normally."

US-Iran Tensions Fuel Oil Price and Inflation Concerns

The 60-day US-Iran memorandum expired Monday without a broader peace deal. An Iranian official reportedly warned that Tehran could shift to a "fully offensive" posture if diplomatic efforts fail.

Back-channel diplomacy remains possible, with reports that the Trump administration has engaged with individuals linked to Iran's Islamic Revolutionary Guard Corps, despite formal negotiations being at an impasse.