Samsung, SK Hynix Slide Up to 5% on US Chip Selloff
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- Samsung Electronics shares fell as much as 4.4% in early morning trade on July 8 in Seoul, tracking the overnight US semiconductor selloff
- SK Hynix shares dropped as much as 5% in early trade, mirroring losses across the broader memory and semiconductor space
- Intel closed down 9.7%, Micron down 4.7%, and AMD down 6.5% in the prior US session, dragging the sector lower
- The Philadelphia Semiconductor Index (.SOX) lost 4.7% overnight as investors questioned whether AI-related spending can be sustained
Why it matters: Samsung and SK Hynix losing up to 5% on July 8 mirrored overnight US chip selloffs where Intel fell 9.7%, AMD 6.5%, and the Philadelphia Semiconductor Index dropped 4.7%, all on doubts about whether AI-related spending can be sustained. The selloff effectively spreads the AI-sustainability question from Wall Street to Seoul, hitting the two Korean memory leaders hardest.
