The KOSPI sell-off highlights how quickly inflation and interest-rate concerns can trigger broader deleveraging, particularly in technology-heavy markets. The key near-term indicators are upcoming inflation data, Fed communications and whether Treasury yields resume rising. If inflation remains elevated, rate-sensitive equities may face further pressure; if yields stabilize and rate-hike expectations ease, markets could recover some losses. The outlook remains uncertain, with heightened volatility likely around the next Fed decision.