Declines in SK Hynix and Samsung weigh on chip stocks, pulling the Nasdaq lower amid broader market uncertainty.
The Nasdaq fell as semiconductor stocks retreated, led by sharp losses in SK Hynix and Samsung, which pushed South Korea’s Kospi index down over 6%. Despite Taiwan Semiconductor Manufacturing reporting record earnings for the fifth consecutive quarter, investor sentiment remained weak.
The sector’s volatility follows a turbulent period marked by shifting trader focus toward earnings season and rising geopolitical risks, particularly tensions between Washington and Tehran. Oil prices rebounded after a brief pause, reflecting concerns over potential Middle East escalation. Retail sales data released earlier showed a slowdown last month.
Netflix earnings are expected after the market close, adding to the day’s key catalysts.