EWY is trading at $198.07 (-3.38%) as a sharp reversal in South Korean tech sentiment and broader risk-off trading in global equities pressure the fund.
- The decline follows a loss of momentum in the AI-driven rally sparked by Micron’s earnings, which has directly impacted the fund's heavy exposure to Samsung Electronics and SK Hynix.
- Broader U.S. futures turning lower and overnight volatility in Korean equities have triggered profit-taking after the ETF's recent surge during the prior session’s AI-chip rebound.