SK Hynix Shares Crash 9% as AI Stock Boom Fears Spread to US
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An artificial intelligence-driven stock selloff in South Korea hit the United States on Monday. SK Hynix Inc., a major memory chip maker, saw its US-traded shares fall 9.3%. The drop came on the second day of trading for its American depositary receipts.
The decline shows growing investor worry that the AI boom may have pushed stock prices too high. SK Hynix is a key supplier for AI technology, making chips that power advanced computing systems. Analysts say the sudden selloff reflects a broader fear that the rapid rise in AI-related stocks is not sustainable.
The rout started in South Korea last week and quickly spread to global markets. SK Hynix’s ADRs, which let foreign investors buy shares in the company, were hit hard on their second day of trading in New York.