Samsung Electronics drops 3.3% as global tech selloff deepens

fr.investing.com (French) —

Samsung Electronics shares fell 3.3% to ₩207,500 on Friday, extending recent declines amid a broad correction in global technology and artificial intelligence stock valuations. The drop paralleled rival SK Hynix, which plunged after abandoning its US NAND memory subsidiary Solidigm's IPO. The KOSPI index fell about 2.6% to 5,533.77, following a 3.52% decline Thursday, its lowest close since April, as debt-funded AI infrastructure profitability concerns weighed on tech stocks. The Philadelphia Semiconductor Index plunged overnight, its biggest drop since June, now over 26% below its record high. Continued foreign and retail investor outflows from Korean equities amplified the negative contagion.


With a significance score of 1.1, this news ranks in the top 56% of today's 32695 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: