Asian Chip Selloff Deepens: Samsung, SK Hynix Drop 7% as Yields Spike
NDX sits 29% above its 52-week low of $22,841.417.
Summary
Asian equities fell sharply as the semiconductor selloff extended into a new session, with South Korea's market plunging nearly 6% and chip bellwethers Samsung and SK Hynix each down about 7%. The declines follow a 5% drop in a key US semiconductor gauge and a 1.7% slide in the Nasdaq 100 on Tuesday. Elevated bond yields are a major driver: the 30-year Treasury yield touched 5.34% and the 10-year reached 4.75%, levels not seen in years, raising borrowing costs for hyperscalers and pressuring AI infrastructure spending. Brent crude rose to $91.30 amid Middle East tensions, with the UAE reporting two Iranian ballistic missiles fell into the sea. Fed minutes due Wednesday may clarify policy reaction, but with over a third of traders now pricing a rate hike, risk-off sentiment is likely to persist.
At the time of this announcement, NDX was trading at $29,490.96 on NASDAQ in the Technology sector. The 52-week trading range was $22,841.42 to $30,762.20. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Moneycontrol.