Memory chip stocks down again today: Why SK Hynix shares are tumbling after its record-breaking IPO

Shares in memory chip companies took another dive on Monday, reflecting growing investor worries about the longevity of the AI-driven stock market boom. SK Hynix's American depository shares fell by 8.9% following its record-breaking IPO last week, which was the largest ever by a foreign company in the U.S. This significant drop highlights broader concerns about the semiconductor sector's future amidst oversupply and slowing demand. Meanwhile, SK Hynix also plummeted 15% in South Korea, making it the biggest decliner there, while Samsung dropped 10.5%, underscoring the sector's volatile nature and the challenges ahead.