SK Hynix craters 15%; SpaceX slips under $135 IPO
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- SK Hynix cratered 15% in Seoul Monday — its worst single-day drop in nearly two decades — while US ADRs fell 9.2% to $152.50 in premarket after a 12.8% Nasdaq debut gain.link ›
- The Seoul selloff dragged the Kospi down 9%, triggering a 20-minute trading halt, with Samsung Electronics sliding in sympathy.link ›
- SK Hynix ADRs priced at $149 and raised over $26.5 billion in their July 10 Nasdaq debut; Chairman Chey Tae-won was on the floor at the Nasdaq MarketSite.link ›
- SpaceX closed at $135.27 Wednesday, briefly slipping below its $135 IPO price for the first time, ahead of Thursday's 13th Starship test flight.link ›
- JPMorgan posted a 41% profit surge on a record $6 billion in stock-trading revenue — the highest quarterly profit in US banking history.link ›
- U.S. CPI fell 0.4% month-on-month in June, the first monthly decline since July 2023, but WTI crude jumped to nearly $80 a barrel as the U.S. reimposed a Strait of Hormuz blockade.link ›
- Bitcoin dropped 2%+ as July Fed rate hike odds jumped to ~50% from ~10%, with the two-year Treasury yield hitting 4.29%.link ›
- Trump disclosed over $1.4 billion in 2025 income from World Liberty Financial and the Trump meme coin, while his stocks and bonds portfolio grew at least fourfold.link ›
SK Hynix torched its Seoul shareholders with a record 15% plunge Monday — the chipmaker's worst single-day drop in nearly two decades — just two days after its $26.5 billion Nasdaq debut looked like a coronation. The collapse dragged the Kospi down 9%, triggered a 20-minute trading halt, and pulled Samsung down with it, exposing the ugly mechanics of dual-listed AI plays: ADRs surged 13% in New York while local holders sold to chase them, and the HBM4 shipment ramp investors had priced into Q2 simply hasn't materialized. SpaceX, the other big post-IPO name of the moment, slipped below its $135 offering price Wednesday ahead of Thursday's 13th Starship test — both blockbuster listings turning into cooling pots faster than the bulls expected.
The stories behind this week
U.S. CPI slowed more than expected in June as gasoline prices retreatedHouseholds get temporary relief from lower gas prices, but the swift reversal in energy costs due to Middle East conflict raises the risk of sticky inflation, making a Fed rate cut less likely before 2026 and increasing borrowing costs for consumers and businesses.
Bitcoin slips as traders lift July Fed rate hike bets ahead of Inflation reportCrypto traders face a near-term binary event in Tuesday's CPI print — the source notes that should inflation prove more persistent, it could amplify concerns about the Fed's path and push the 50% July hike odds even higher, dragging Bitcoin further. ING's curve read suggests any delivered hike would likely be reversed with bigger cuts to follow, meaning short-term pain may set up the next buying opportunity.
SK Hynix Drops Record 15% in Seoul After US DebutSK Hynix's record 15% Seoul drop came just two sessions after its $26.5 billion ADR debut, suggesting the blockbuster listing may have marked a local-market peak rather than a launchpad. The simultaneous rotation from Seoul shares into surging ADRs creates near-term technical pressure on the stock that has been a bellwether for Korea's AI trade.
SK Hynix shares tumble after strong Nasdaq debutSK Hynix's 15% Seoul plunge — its worst in nearly two decades — unwound weeks of gains for investors who piled into the AI memory chip narrative. Morningstar analysts now see 2027-2028 oversupply risks, and the source notes HBM4 shipment increases investors expected for Q2 have not materialized at scale, setting up a tense earnings test for the world's leading HBM supplier.
SpaceX Stock Dips Below $135 IPO Price for First TimePassive index-fund investors who gained SpaceX exposure through last week's Nasdaq-100 inclusion are now below the $150 reference price and barely above the $135 IPO mark, making Thursday's 13th Starship test a near-term catalyst that could either validate or deepen the post-IPO slide.
Trump's $1.4B Crypto Gains Went Into Stocks, BondsThe disclosure creates an uncomfortable optics problem for Trump's pro-crypto political brand: he personally harvested over $1.4 billion from token sales while retail buyers in the same projects lost roughly $2.3 billion, and his own capital migrates to stocks and bonds rather than the assets he champions. The 4x growth in his conventional portfolio means the gap between his rhetoric and his private balance sheet is now documented in an official federal filing.
US banks live: JPMorgan profits soar 41% on blockbuster trading revenues - Financial TimesJPMorgan's record across every business line — anchored by a $6 billion stock-trading haul — shows Wall Street trading desks cashed in heavily on recent market volatility, with the largest US bank delivering its most diversified revenue beat simultaneously.
Sensex Down 9.37% in 2026: History Favors Patient InvestorsFor long-horizon investors weighing whether to pause fresh allocations, the FundsIndia data shows seven-year rolling returns on the Nifty 50 TRI have effectively never gone negative, with an average annualized return of 14–15%—meaning the practical cost of waiting out the current correction is measured against foregone compounding rather than preserved capital. Equity investors with multi-year horizons face a historical base rate where roughly 80% of calendar years since 1980 finished positive despite mid-year drawdowns.
Why it matters: SK Hynix's collapse dragged the Kospi down 9%, tripped a 20-minute circuit-breaker halt, and pulled Samsung down with it — the AI-memory trade now trades as a single correlated bet that can break Korean markets in a session.
