September S&P 500 E-Mini futures (ESU26) are down -0.29%, and September Nasdaq 100 E-Mini futures (NQU26) are down -0.94% this morning, pointing to a lower open on Wall Street as chipmakers came under renewed selling pressure following a selloff in their South Korean peers.
Memory chip stocks tumbled in South Korea, sparking a selloff in AI-related stocks around the world. SK Hynix plummeted over -15% in Seoul, marking its steepest drop on record, as its historic U.S. trading debut on Friday triggered a “sell the news” reaction and profit-taking. SK Hynix’s slump weighed on fellow memory giant Samsung Electronics, which sank more than -10%. U.S. chip and AI infrastructure stocks looked set to join the global selloff, with Sandisk (SNDK) falling over -6% and Micron Technology (MU) dropping more than -5% in pre-market trading. SK Hynix’s ADRs were down over -9% in pre-market trading.
