SK Hynix plunges 10% as Asia tech rout deepens on Fed and AI funding fears

Global technology hardware stocks fell sharply Thursday, with South Korean chipmaker SK Hynix plunging over 10% amid concerns over potential Federal Reserve rate hikes and financing challenges for AI investments. Samsung Electronics dropped 7.1%, while other Asian tech firms also declined, including SoftBank Group falling 7.9% and Advantest losing 6.9%. The sell-off followed Wall Street losses Wednesday after hotter-than-expected U.S. inflation data fueled rate hike fears. Broadcom and Intel CEOs warned Monday that financing could become a major headwind to AI expansion. Analyst Dan Ives called the pullback a buying opportunity, noting underlying AI demand remains robust despite rising Treasury yields above 5%.