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The Wall Street Fear & Greed Index registered a reading of 20 out of 100, indicating a period of extreme fear.
Jesse Cohen, identified as a Senior Markets Analyst at Investing.com, commented that real money is made when such high levels of fear in the market create discounts.
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Jesse Cohen previously highlighted a sharp drop in South Korea's Kospi Index, which fell nearly 4 percent overnight. He also reported that SK Hynix shares lost 10% and erased $85 billion in market value, citing concerns over Chinese competition. Both developments came amid heightened volatility in Asian equity markets.