Global markets see tech sell-off while Ukraine receives EU funding

Global stock markets experienced a significant downturn on June 8, primarily driven by a widespread sell-off in technology and semiconductor company shares. These firms had previously benefited from the artificial intelligence boom, but investors are now reducing their holdings. The South Korean Kospi index declined by up to 8.8%, with major semiconductor manufacturers like Samsung Electronics and SK Hynix seeing their stock prices fall over 10%. Separately, Ukraine received a €2.8 billion disbursement from the European Union on the same day. This seventh tranche under the Ukraine Facility program is intended to support priority state budget expenditures, including social and humanitarian needs. Prime Minister Yulia Svyrydenko confirmed the funds, noting Ukraine has fulfilled 11 reform indicators.

Sources: Forbes Ukraine, FT, Радіо Свобода