SEOUL — The KOSPI fell nearly 7 percent by late morning Tuesday, dropping below 5,950 and extending a foreign-led sell-off in chip stocks that began after a Chinese memory maker said it would ship a denser server product this year.

The index was at 5,940.48 at 11:53 a.m., down 443.76 points, or 6.95 percent, from Monday's close of 6,384.24. It opened 3.1 percent lower. Yonhap reported it at 5,997.99, down 6.05 percent, at 11:20 a.m. A sell sidecar, which temporarily suspends program sell orders, was triggered at 9:47 a.m. when the index was down more than 5 percent.........

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