Elena Nikulina

Ben Carlson: Sharp declines hit S Korea, semis, China, Taiwan, and Nasdaq 100

Ben Carlson: Sharp declines hit S Korea, semis, China, Taiwan, and Nasdaq 100
Sharp downturn in S Korea and Nasdaq

Ben Carlson, director of institutional asset management, CFA and author at Ritholtz Wealth Management, highlights significant declines in several market hotspots.

He points to South Korea (EWY) falling 14%, semiconductors (SMH) down 9%, China (EMXC) off 8%, Taiwan (EWT) dropping 7%, and Nasdaq 100 (QQQ) slipping 5%. Carlson compares the correction to needed rain after a long dry spell in these markets.

Earlier in the year, Carlson noted that South Korea outperformed the S&P 500 over the past decade, buoyed by recent gains. He also highlighted the S&P 493 outpacing both the S&P 500 and the so-called Mag 7 in 2024. The latest moves mark a reversal from those earlier trends.

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