SK Hynix shares plunge over 11% in Seoul amid global chip sell‑off
SK Hynix stock fell 11.42% to KRW 1,257,000 ($929.92) in Seoul as hotter U.S. inflation data and expectations of another Federal Reserve rate hike sparked a broad chip sector decline. The drop coincided with a 6.06% fall in its Nasdaq‑listed ADRs to $147.55 and a further 3.96% slide to $141.71 in after‑hours trading. The sell‑off was part of a wider market pullback, with South Korea’s KOSPI down 7.81% and the Nasdaq Composite down 1.88%.
Why it matters
The sharp price decline reduces the market value of SK Hynix and may trigger stop‑loss orders or margin calls for investors holding the stock. The broader chip‑sector weakness suggests heightened risk for related semiconductor equities.
Key facts
- 1SK Hynix shares dropped 11.42% to KRW 1,257,000 ($929.92). benzinga.com
- 2South Korea's KOSPI index fell 7.81% to 5,539.34. benzinga.com
- 3The Nasdaq Composite fell 1.88% to 26,692.87. benzinga.com
- 4U.S. consumer prices rose 3.7% year‑over‑year in September. benzinga.com
- 5The Federal Reserve increased its policy rate to a range of 3.75%‑4% on September 16. benzinga.com
- 6SK Hynix ADRs closed 6.06% lower at $147.55. benzinga.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.