Samsung’s exhibition stand prominently displays the slogan “A new era of mobile agent AI” by South Korean company Samsung Electronics.
Joanne Crosnull Photo | Getty Images
Shares of Samsung Electronics and SK Hynix plunged more than 7% in early trading on Thursday, pushing down South Korea’s benchmark. Kospi This comes after the tech-heavy Nasdaq Composite Index fell overnight.
Samsung Electronics fell more than 7% and SK Hynix tumbled more than 9%, wiping out billions of dollars in market capitalization as Asia’s biggest chipmaker bore the brunt of the global tech stock sell-off.
SK Hynix’s largest shareholder, SK Square, also fell more than 10%, reflecting widening losses across the semiconductor sector.
The decline follows a dismal start to July. Nasdaq This is because investors actively sold semiconductor stocks.
In Wednesday’s session on Wall Street, micron technology Despite rising an impressive 260% year-to-date, the stock has fallen more than 10%. sandisk It also decreases by more than 10% overnight.
Other megacap technology stalwarts, Nvidia and broadcomadded to the decline by between 1% and 2%.
