- cross-posted to:
- world@lemmy.world
- cross-posted to:
- world@lemmy.world
Goldman’s strategists reckon this means around one in 30 adults in the country, or 3.4% of the adult population margin called
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I never use leveraged instruments myself, seems super dangerous. Stock market is insanely emotional and goes from greed to fear in days just based on a single news item.
* POP *
I fucking hope so!!!
Oh no! A 3 month low! 3 months, practically a lifetime. Yes sir, I’m sure that millions of people only started investing during these 3 months and are really hurting right now instead of facing a short-term loss in the face of over a decade of profits.
We are not talking about 1 or 2 companies this is the KOSPI similar to S&P in US. This worse than 2008 for Korea. Additionally many Koreans use leverage which means they were margin called and some are even in debt now.
The collapse surpasses the October 1997 IMF crisis, when the index lost 27%, and the October 2008 global financial crisis at 23%.
https://finance.yahoo.com/markets/stocks/articles/south-korea-stock-market-crash-092957385.html
To fix the situation the government intervened and poured NT$450 Billion investment into AI.
https://finance.biggo.com/news/b4b67689-a989-445f-810c-9cb92bca140f
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