Chip stocks slide in US and Asia as AI jitters rattle investors

Chip stocks plummeted across the US and Asia as investor concerns about artificial intelligence intensified, with South Korea's Kospi index falling 10.8% and major chipmakers Samsung Electronics and SK Hynix dropping over 13%. The sell-off was triggered by Nvidia's 5% decline on Monday, which caused it to lose its position as the world's most valuable company to Apple. Experts attribute the sharp correction to phenomenal gains earlier in the year and the concentration of Korean investment in tech stocks, amplified by retail investors using borrowed money.