STOCKS | KOSPI Falls Nearly 9% and Triggers Seventh Circuit Breaker This Year

South Korea’s KOSPI closed nearly 9% lower, triggering its seventh circuit breaker of the year, and leaving the benchmark down 27% from its June highs. According to NS3.AI, Goldman Sachs said the sell-off reflected a liquidity-driven “position washout.” Goldman Sachs added that forced liquidations of leveraged exchange-traded funds accounted for 62% of the day’s net selling by local institutions.