---
symbol: "EWY"
name: "iShares MSCI Korea ETF"
date: 2026-08-10
change_pct: -2.439903846153848
direction: "down"
event_type: "theme_sympathy"
url: "https://perplo.app/why/EWY/2026-08-10"
updated_at: 2026-08-10T13:06:31.826Z
---

# Why iShares MSCI Korea ETF (EWY) fell 2.44% on August 10, 2026

iShares MSCI Korea ETF (EWY) fell 2.44% on August 10, 2026 — Won nears 1,400 — Korea tech selloff on FX stress.

## What happened

The MSCI Korea index fell as the won breached 1,400 per dollar amid historic FX volatility, triggering outflows and a broad risk-off in Korea equities.

## Why it moved

EWY, a passive Korea equity tracker, moves directly with the index and won weakness; a weaker currency and foreign selling compress valuations across the basket.

## Why it matters

Korea Tech's AI and memory rally has reversed into a macro-driven selloff; the won's 1,400 breach signals capital flight and geopolitical concerns (Hormuz, U.S.–China tension) that override chip upside.

## What would break the thesis

Policy response—whether the Bank of Korea defends the won—is the key pivot; if support holds, foreign flows may stabilize and the index rebounds; if the won breaks further, EWY tracks lower.

## Sources

- [Won nears 1,400 after sharpest swings since financial crisis](https://www.koreaherald.com/article/10836205) — Korea Herald

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