Bulle d’IA, inflation et hausses des taux : la tempête parfaite pour les marchés ?

Humming Bird · 2026-06-26T18:49:22.000Z

Il y a eu des troubles sur l’ensemble du marché asiatique. En fait, pas seulement l’Asie : même si vous incluez le marché américain, les futures américaines sont en baisse d’environ 2,5% . Le point central de cette secousse de l’ensemble du marché est la Corée du Sud.Aujourd’hui restera dans les mémoires comme le Black Tuesday dans l’histoire de la bourse sud-coréenne. Pourquoi ? Parce que le marché s’est effondré de 10% en une seule journée. Les deux entreprises qui, à elles seules, représentent près de 50% du marché boursier du pays ont chacune chuté d’environ 12%. Ces entreprises sont Samsung et SK Hynix

There has been turmoil across the entire Asian market. In fact, not just Asia—even if you include the U.S. market, U.S. futures are down about 2.5%. The epicenter of this entire market earthquake is South Korea.
Today will be remembered as Black Tuesday in the history of South Korea's stock market. Why? Because the market crashed by 10% in a single day. The two companies that together account for nearly 50% of the country's stock market each fell by around 12%. Those companies are Samsung and SK Hynix.
So, what is the reason behind this?
1️⃣The reason is a Bank of America report released on June 22, which states that inflation in the United States has reached an unsustainable level. Until now, many investors believed that President Trump's tariff policies were aimed at creating conditions for interest rate cuts. However, according to the report, the opposite is likely to happen. Over the next six months, the U.S. may see at least three interest rate hikes.
If interest rates rise, market liquidity will decline. This is advantageous for the U.S. because higher rates could trigger a significant correction in Asian markets—especially in Taiwan and South Korea, where stock prices have risen sharply due to the AI boom. As money exits those markets, it is expected to flow into the United States.
2️⃣The second reason is unsustainable AI spending, which investors are now beginning to recognize. The entire AI boom—or AI bubble—is heavily dependent on the American technology ecosystem. At present, around 45% of the total U.S. stock market's value is concentrated in AI-related companies. In fact, nine of the top ten U.S. companies are AI-driven or closely tied to AI.
Looking at the past 200 years of market history, whenever more than 40% of market capital becomes concentrated in a single sector, a market crash has eventually followed.
Another important point is that the biggest competitor to the U.S. AI ecosystem is China's AI models, which are offering similar services at only a fraction of the cost. Therefore, there is a strong possibility that the AI ecosystem could undergo another major reset.
And when the stock market of an entire country starts behaving like a small-cap stock or even a meme coin, there's a good chance that similar situations could spread to other markets as well.
In such circumstances, retail investors should take two steps back, remain calm, carefully observe the global market situation, and only then make investment decisions.