SK Hynix shares plunge 15% after Nasdaq debut, selloff

Shares of SK Hynix plunged on Monday, July 13, 2026, erasing its gains from a high-profile U.S. stock market debut just days earlier and triggering a broad selloff in semiconductor and artificial intelligence-related stocks. The South Korean memory chipmaker's shares fell 15.4% in Seoul, marking its steepest single-day decline on record, while its Nasdaq-listed shares were down about 6%. The sharp reversal followed a 12.8% surge during its inaugural trading day on Wall Street on Friday, July 10, in what was the largest foreign listing in history.

The decline was attributed to investors locking in profits after a remarkable 500% rally in the company's share price over the preceding twelve months. Market observers also pointed to ongoing uncertainties, including the timing of next-generation HBM4 memory shipments and the company's upcoming second-quarter earnings report, as factors adding to the selling pressure. The drop was severe enough to trigger a market-wide trading halt in South Korea as the benchmark Kospi index plunged.

The weakness quickly spread across the global semiconductor sector. In U.S. trading, the S&P 500 fell 0.3% and the Nasdaq Composite declined 0.7%. Major...