South Korean chip giant SK Hynix plunged over 8% Thursday as a broad sell-off hit Asian tech stocks. Samsung Electronics fell 7.1%, LG Innotek dropped 8.1% and Japan’s SoftBank Group tumbled 7.9%. These declines followed a tough session on Wall Street Wednesday, where the Nasdaq shed 1.88% to close at 26,692.87 and the S&P 500 lost 1.11% to end at 7,718.94, after hotter-than-expected U.S. inflation data. Investors are increasingly concerned that higher borrowing costs could weigh on the massive capital spending required to build out AI infrastructure.
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