Why did the EWY ETF drop 14%?

The drop was caused by a severe semiconductor selloff that started with Broadcom (AVGO) and spread to NVIDIA (NVDA) and Micron (MU), impacting Korean stocks like Samsung and SK Hynix.

Was this the largest single-day drop for EWY?

Yes, this is the worst single-day decline for the fund since the March 2020 COVID crash.

What other stocks were affected?

Other Asian ETFs like the iShares MSCI Taiwan ETF (EWT) also fell 3%.

Korea ETF Plunges 14% in Worst Session Since 2020

The iShares MSCI South Korea ETF (EWY) suffered a 14% single-day decline on Friday, its worst session since the COVID crash in March 2020. The selloff was sparked by a broad semiconductor rout that began with Broadcom (AVGO) and spread to NVIDIA (NVDA) and Micron (MU).

June 8, 2026

2 min read

Source: 24/7 Wall St.

Key Numbers

EWY price open

204

EWY price close

175.19

EWY decline percent

EWY decline dollar

28.81

The iShares MSCI South Korea ETF (EWY) experienced a brutal 14% drop on Friday, closing at $175.19 after opening near $204. This marks the fund's largest single-day decline since the March 2020 COVID-induced market crash.

Potential Causes

The sharp decline was triggered by a severe selloff in the semiconductor sector, starting with Broadcom (AVGO) following reports of weakening demand. The rout spread to NVIDIA (NVDA) and Micron (MU), dragging down heavily weighted Korean semiconductor stocks like Samsung Electronics and SK Hynix, which are major components of the ETF.

Context

Prior to this session, the ETF had been volatile, but this sudden plunge underscores the Korean market's sensitivity to global tech news. The fund is now trading near multi-month lows.

Similar Sector Moves

The selloff was not limited to EWY; other Asia-focused ETFs like the iShares MSCI Taiwan ETF (EWT) also fell 3%, indicating a broad regional impact.

Frequently Asked Questions

The iShares MSCI South Korea ETF (EWY) is an exchange-traded fund that tracks the performance of major South Korean stocks, with a heavy focus on technology and semiconductors.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.