SK Hynix Stock Plunges 11% in Seoul, Slips After Hours in New York as Hot CPI, Fed Hike Bets and AI Funding Worries Weigh

SK Hynix Inc.(NASDAQ:SKHY) shares tumbled more than 11% in Seoul on Thursday, deepening a global chip selloff tied to hotter U.S. inflation, Federal Reserve rate-hike bets and doubts over funding the artificial intelligence buildout. SK Hynix Leads Asia's Chip Rout The chipmaker fell 11.42% at the time of writing to KRW 1,257,000 ($929.92), while Samsung Electronics fell 8.84% to KRW 211,500 ($156.47). South Korea's KOSPI fell 7.81% to 5,539.34. In Japan, the Nikkei fell 225 fell 4.12% to 64,951.15, with SoftBank Group Corp falling 9.34%. On Wall Street Wednesday, the tech-heavy Nasdaq Composite fell 1.88% to 26,692.87, and the S&P 500 slid 1.11% to 7,718.94, with technology shares leading the losses.