SK Hynix plunges nearly 60% since June, erasing over $660B
Business
SK Hynix lost nearly 60% of its stock value since June, wiping out over $660 billion.
The drop comes as investors worry about shaky AI funding and rising inflation, which has made the whole semiconductor sector pretty nervous.
AI hype reversal and investor outflows
Earlier this year, SK Hynix shares soared thanks to AI hype, but things turned fast.
Inflation news and expected US interest rate hikes spooked investors. Plus, trouble in the AI world, like CoreWeave's bond issues, sparked more sell-offs that hit both SK Hynix and Samsung hard.
The broader KOSPI index even slipped into bear market territory after a sharp 8% fall on October 15, with foreign investors pulling out billions in just one morning.