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SK Hynix ADR Plunges 7.94% on July 16, Second Consecutive Day of Sharp Decline

GateNews
Stocks
SKHY-11.88%
NVDA-2.75%
MU-6.67%
AVGO-4.44%
TSM-3.65%

According to Yonhapinfomax, SK Hynix ADR plunged 7.94% to $162.45 on July 16, marking its second consecutive day of sharp decline after dropping 9.00% on July 15. The stock has fallen below its initial listing price of $170 on July 10.

The Philadelphia Semiconductor Index declined over 3%, with major chip stocks including Nvidia (down 2.52%), Micron Technology (down 6.26%), Broadcom (down 3.34%), TSMC (down 2.23%), and AMD (down 4.50%) all losing ground. Concerns over artificial intelligence investment overheating and elevated oil prices amid U.S.-Iran tensions have pressured semiconductor equities.

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