Topic
financial crisis
South Korea's KOSPI Crashes 10.8%: Circuit Breaker Triggered as Semiconductor Rout Deepens
South Korea's KOSPI plunged 10.84% on Tuesday, its worst session in five months, driven by a rout in semiconductor stocks SK Hynix and Samsung Electronics. A circuit breaker was triggered for the eighth time this year. Foreign investors net sold 5 trillion won ($3.42 billion), while concerns over Chinese chipmaker CXMT's blockbuster IPO added to selling pressure.
Logistics US Postal Service Averts Immediate Shutdown but Faces Liquidity Crisis by 2031, Warns Postmaster General
The U.S. Postal Service has avoided a 2027 shutdown through deferrals, but Postmaster General David Steiner told a Senate panel that the agency is nearly $31 billion in debt with only $8.9 billion cash on hand. Mail volume has halved since 2000, while addresses grow by 1 million annually. Steiner presented a stark choice: allow USPS to operate independently or subsidize universal service to support a $2 trillion mailing industry.