▲ Wall Street Plunge
Following the overnight plunge in New York stock markets, individual investors trading in U.S. equities are estimated to have suffered massive losses in a single day.
According to SEIBro, the securities information portal of the Korea Securities Depository, the total value of U.S. stocks held by Korean retail investors, known as Seohak Ants, stood at $179.45922 billion as of November 4 based on the inquiry date.
However, on November 5 local time, the three major New York stock indices plummeted, with the S&P 500 plunging 4.36% and the Dow Jones Industrial Average dropping 3.44%.
In particular, the tech-heavy Nasdaq index, where Seohak Ants hold large stakes in many stocks, crashed by 5.52%.
Applying the drop in the Nasdaq index to the value of holdings by Seohak Ants amounts to $9.90614 billion, or approximately 13.4426 trillion won, evaporating in a single day.
The actual losses for Seohak Ants could be even larger.
This is because the decline in prices for stocks most heavily held by Seohak Ants was much steeper than the index drops.
The favorite stock among Seohak Ants is Tesla, with their holdings valued at $22.1 billion as of November 4.
Tesla's share price plummeted 10.77% on November 5, wiping out about $2.3 billion in valuation.
Nvidia, the second most-held stock, also fell 9.26%, reducing its valuation by $1.49 billion.
In particular, the Direxion Daily Semiconductor Bull 3X Shares (SOXL), a 3x leveraged ETF tracking the U.S. semiconductor index with holdings valued at $5.3 billion, crashed by 38.71%.
Consequently, losses surpassed $2 billion (2.714 trillion won), and the share price of U.S. semiconductor firm Micron also dropped 17.46%, recording valuation losses of over $600 million.
The losses from these four stocks alone reached 8.7 trillion won, and hundreds of billions of won in losses were also recorded for Palantir, SpaceX, IonQ, and others.
As a result, it is estimated that the total value of stock holdings by Seohak Ants has fallen below $170 billion.
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