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Chip stocks are putting pressure on Wall Street amid market concerns
South Korean company SK Hynix’s shares declined by 11.53%, influenced by pressure from chip company stocks, as semiconductor shares worldwide decreased for the second consecutive day due to concerns over U.S.-Iran escalation and its negative impact on markets. This coincided with a drop in Wall Street stocks, where the Dow Jones Index fell by 0.01%, the S&P 500 by 0.33%, and the Nasdaq by 0.98%. Asian stocks, including Japan and South Korea, experienced sharp declines, while the shares of Chinese tech giants Alibaba and Baidu rose after their partnership with Apple to deploy artificial intelligence tools.
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