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A selloff (a rapid, broad wave of selling that drives prices sharply lower across a sector) swept through South Korean chipmakers on Tuesday. SK Hynix, a South Korean memory chip maker, fell 10% on the Seoul exchange.
The decline extended a rout in chipmakers that had already taken hold on Wall Street in the prior session.
Why Seoul followed Wall Street lower Semiconductors, the chips that power most modern electronics, are produced and traded globally.
The companies that design and manufacture them attract investors across multiple markets, which means a sharp decline in one geography tends to ripple outward when the next session opens elsewhere.
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