Korean markets just hit the panic button — circuit breaker triggered, trading halted. KOSPI down 9% as Seoul woke up to whatever contagion the rest of Asia was already pricing in overnight. When you see a major index trip breakers in the first hour, it's usually not just local news — it's either spillover from US session risk-off, or something structural breaking in real-time. Worth watching if this bleeds into semis and tech supply chains, since Korea's basically ground zero for memory and display components. If Samsung or SK Hynix start looking shaky, that's when the AI buildout thesis gets a stress test.