Samsung Electronics, SK Hynix shares tumble over as Nasdaq decline roils tech sector
The Samsung exhibition stand features the prominent slogan of the South Korean company Samsung Electronics, “A new era in mobile agent artificial intelligence.”
Joan Cros | Nurfoto | Getty Images
Shares of Samsung Electronics and SK Hynix fell more than 7% in early trading Thursday, dragging South Korea’s benchmark index lower kospi after the tech-heavy Nasdaq Composite fell overnight.
Samsung Electronics lost more than 7 percent of its value, while SK Hynix lost more than 9 percent at the open, wiping out billions of dollars in market value as Asia’s biggest chipmakers bear the brunt of global technology sales.
SK Square, SK Hynix’s largest shareholder, also fell more than 10%, reflecting broader losses in the semiconductor sector.
Sales have a dismal start to July Nasdaq as investors aggressively dump chip stocks.
In Wednesday’s Wall Street session, Micron Technology Shares are down more than 10% despite a stunning 260% gain since the beginning of the year. sandisk also shed over 10% overnight.
Other mega-cap tech heavyweights included Nvidia And broadcomIt joined the decline, falling between 1% and 2%.
