On the morning of October 13, Japanese and South Korean stock markets experienced sharp declines.

As of press time, South Korea's KOSPI index had fallen more than 5%, hitting its lowest level since August 3. The Korea Exchange activated the SIDECAR mechanism, suspending program selling on the KOSPI.

SK hynix (SKHY) dropped more than 7%, while Samsung Electronics Co., Ltd. (SSNLF) fell nearly 6%.

Japan's Nikkei 225 index declined 2.37%.