Carl Quintanilla, David Faber and Sara Eisen covered all of the bases on the tech-fueled global market sell-off: South Korea&#x27;s Kospi tumbled ten percent from a record closing high — as chipmakers Samsung and SK Hynix fell by double digits and weighed on shares of their U.S. counterparts; AI spending fears impact &quot;Magnificent 7&quot; stocks; SpaceX shares briefly fell below Friday&#x27;s post-IPO opening price of $150. Also in focus: Oil prices fall to fresh March lows as U.S.-Iran talks continue, Apollo&#x27;s private credit fund caps redemptions, Oracle job cuts update.<br><br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9am Hour: Global Sell-Off: Tech Pain as Kospi plummets 10%, Chips Tumble 6/23/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (None)
- **David Faber** (None)
- **Sara Eisen** (None)
- **Christina Partsinevelos** (CNBC)
- **Mike Santoli** (CNBC)
- ** Christina Partsinevelos** (CNBC)

## Transcript

[SPEAKER_02] At Venture Global, we think about what can be done, not what's usually done. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost and a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy.

[SPEAKER_01] Trading at Schwab is now powered by Ameritrade, bringing you an expanding library of education with even more ways to sharpen your trading skills. Access new online courses, insightful webcasts, articles, engaging videos, and more. All curated just for traders. Plus, guided learning paths with content designed to fit your unique interests. And no sifting to find exactly what you need so you can spend your time learning to trade brilliantly. Learn more at schwab.com slash trading.

[SPEAKER_16] It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action.

[SPEAKER_07] Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with David Faber, Sarah Eisen at Post 9 of the New York Stock Exchange. Kramer's off today. Global markets on the lookout for signs of AI exhaustion as the Kospi falls 10% overnight in South Korea. Biggest drop in three months. SpaceX dips below its opening price from IPO day. Oil below 74. The president says 19 million barrels crossed the straight yesterday. Goldman does cut its Q4 Brent forecast to 80.

[SPEAKER_07] Our roadmap begins with this intensifying tech route. Chip stocks joining the pullback. Memory names tumbling as the global sell-off rages on.

[SPEAKER_04] Plus, always keeping an eye on private credit this morning or late yesterday. Apollo curb withdrawals in its main retail-focused private credit fund. That after exit requests at about 17% of the assets.

[SPEAKER_15] And SpaceX set for its fourth down session in a row, wiping out more than $900 billion now in market value and trading around its IPO opening price of $150 a share.

[SPEAKER_07] Let's begin with this global sell-off. Talk about what happened in South Korea overnight. One of their biggest drops in several months. Names like SK Hynix and Samsung down about 12%. We've been talking about how torrid their gains have been so far this year, of course.

[SPEAKER_15] Right. When it goes the other way, it's very painful. And this at a time where I think it's important to mention that margin debt, basically borrowing to buy stocks, this month in South Korea hit a record high, 38.5 trillion won, which is about $25 billion.

[SPEAKER_15] So you hit things like forced liquidations when stoc...

9am Hour: Global Sell-Off: Tech Pain as Kospi plummets 10%, Chips Tumble 6/23/26

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

9am Hour: Global Sell-Off: Tech Pain as Kospi plummets 10%, Chips Tumble 6/23/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.