Stock Movers Kospi Index Falls, Led by Electronics Sector; Adidas Falls to Three-Year Low; Gitlab Lower on Earnings
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Mar 4, 2026 Dan Curtis, Bloomberg markets reporter known for crisp international market analysis, breaks down a sharp Kospi sell-off and which tech names drove it. He also covers Adidas sliding to a three-year low after cautious profit guidance. Plus a look at company earnings and market reactions in short, lively market color.
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Kospi Plunge Fueled By Memory Chip Concentration
- The Kospi plunged over 12% in its worst day on record, driven by profit-taking after a large YTD rally concentrated in memory-chip giants.
- Samsung and SK Hynix make up ~40% of the index, so their huge YTD gains left the Kospi vulnerable to a sharp pullback.
U.S. Memory Stocks Largely Unmoved By Korea Drop
- U.S. memory stocks didn't follow Korea's sell-off; Micron and SanDisk rose about 3% in pre-market trading.
- Dan Curtis noted Korea's move was price-taking after a massive climb rather than a broad demand collapse.
Adidas Forecast Disappoints Despite Leadership Continuity
- Adidas shares fell to a three-year low after projecting operating profit of €2.3 billion, below analyst expectations.
- Management extended the CEO's contract to emphasize continuity as he leads a multi-year turnaround amid industry skepticism.