On Tuesday, global financial markets plunged. The main blow hit tech giants and the semiconductor sector. The epicenter of this tectonic shift was Asia, or more precisely, South Korea. During Tuesday's trading on the Seoul exchange, circuit breakers were triggered twice due to a drop in the Kospi Index ($KSIC). At closing, the index recorded an unprecedented nearly 10% drop.
Most financial ****** ysts rushed to explain what was happening through purely technical factors: overheated valuations in the artificial intelligence (AI) sector, an avalanche of forced margin position closures (margin calls) among local retail investors, and profit-taking in Samsung Electronics and SK Hynix shares ahead of a key quarterly report from Micron (MU).
D-Wave Just Unveiled a Major Quantum Breakthrough. QBTS Stock Looks Ready for Another Surge.
Micron Technology Earnings: Bull Put Spread Trade
Ahead of Micron Earnings, Here's What Barchart Data Says Comes Next for MU Stock