Memory stocks tumbled on Tuesday as a selloff in South Korean tech shares spread to US markets, dragging the Nasdaq down 1.9%. The rout began Monday when South Korea's Kospi index fell nearly 10%, driven by heavy losses in SK Hynix and Samsung, which dominate the index. The Roundhill Memory ETF, whose largest holdings include SK Hynix, Samsung, and Micron, saw SK Hynix down about 13%, Samsung down 12.3%, and Micron down 11%. Sandisk was the heaviest hit, falling over 13% Tuesday morning, while Western Digital dropped over 9%. Analysts noted that Sandisk had surged 4,140% over the past year to an all-time high of $2,354.39 last week, suggesting some of the decline may be profit-taking, though Wedbush Securities analyst Dan Ives said recent AI demand checks show no cracks and remain bullish on tech AI winners.
Samsung Electronics Co Ltd
NVIDIA Corporation
Western Digital Corporation
