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SEOUL, Nov. 6 (Yonhap) -- Seoul stocks opened sharply lower Friday, tracking an overnight rout on Wall Street as investors feared a Democratic sweep in Congress could decelerate the data center build-out.
The benchmark Korea Composite Stock Price Index (KOSPI) was down 460.33 points, or 8.55 percent, to 4,923.47 as of 9:25 a.m.
After opening over 2 percent lower, Seoul's bourse operator had issued a circuit breaker soon after the opening bell, suspending trading for 20 minutes, as the benchmark index came under heavy selling pressure.
Major U.S. stock indexes tumbled overnight as the midterm election results weighed heavily on U.S. stocks amid fears over sectors related to artificial intelligence (AI).
The S&P 500 fell 4.36 percent, while the tech-heavy Nasdaq plummeted 5.52 percent.
The Democrats' sweeping victory could slow down investments in data centers and the rollout of such facilities, which have faced widespread opposition from the public.
Adding further concerns is a rise in oil prices after Iranian forces said at least five tankers have been damaged in the Strait of Hormuz.
In Seoul, chip giants Samsung Electronics and SK hynix tumbled 9.98 percent and 11.63 percent, respectively.
Carmaker Hyundai Motor retreated 6.47 percent, financial firm KB Financial dipped 5.03 percent, and defense giant Hanwha Aerospace retreated 4.56 percent.
The Korean won was quoted at 1,357.4 won against the U.S. dollar as of 9:25 a.m., down 1.9 won from the close of the previous stock trading session.
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