Tech and chip stocks are cracking globally, dragging down the averages. South Korea's Kospi index plunged 10% in overnight trading, with leading chip stocks like Samsung Electronics and SK Hynix cracking. Circuit breakers designed to halt trading were triggered for the fourth time in 2026, while a volatility gauge similar to the US CBOE Volatility Index surged to 90, near the level it hit in the depths of the Great Financial Crisis in 2008. The US-traded iShares MSCI South Korea ETF was up 125.3% year-to-date through Monday but is slumping sharply today, and US tech stocks overall were recently down 2%. SpaceX traded below the $150 opening print from its IPO day last Friday, losing more than $600 billion in market capitalization in just three sessions and pushing its valuation back below the $2 trillion level. Oracle Corp. slashed 21,000 jobs over the past year, about 13% of its workforce, to cut costs amid a massive borrow-and-spend capex binge as part of a $70 billion investment plan similar to those at other Big Tech names like Meta Platforms and Alphabet. Italian software rollup Bending Spoons is looking to tap into the red-hot IPO market, aiming to raise as much as $1.6 billion and start trading on the Nasdaq under the ticker symbol BSP sometime in July.
Samsung Electronics Co Ltd
Bending Spoons S.p.A. Ordinary Shares
Alphabet Inc Class C
SK Hynix Inc
Meta Platforms Inc.
Oracle Corporation