South Korean tech startup Elice made its trading debut on the KOSPI index on October 20, 2026, with shares dropping 32% on its first day. The drop marks the worst opening day performance for a major Korean IPO on record. The fall follows a broader market correction from July through September 2026, when the KOSPI erased nearly 20% of its value following an early-year AI rally.
Asian and European equities dropped on October 20, 2026, with Japan’s Nikkei leading regional losses down over 1.2% in morning trading. The downturn follows a sharp selloff across key AI infrastructure and technology stocks on Wall Street, where early gains from chipmakers reversed. Earlier in the week, tech startup Elice cratered 32% during its Seoul trading debut, deepening investor skepticism over inflated AI valuations across Asia-Pacific indexes.
https://apnews.com/article/stock-markets-oil-ai-rates-inflation-b972b64127db5412a2b02c35ecf95c88
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