SK Hynix US-listed shares slip nearly 8% as Nasdaq debut euphoria cools

SK Hynix US-listed shares fell nearly 8% while its Seoul-listed shares tumbled more than 15%, the biggest one-day drop in nearly two decades, dragging South Korea's Kospi down 9% and triggering a 20-minute trading halt. US memory stocks followed lower, with Micron down 6.4%, SanDisk 8.4%, and Western Digital 6.8%, as investors reassessed valuations amid concerns over AI capex sustainability and potential future memory oversupply. SK Hynix had raised over $26 billion in its recent US ADR listing after shares had more than tripled year-to-date.