Chip Stocks Pummeled. SK Hynix Dives. SOX Socked Again.

Asian semiconductor stocks tumbled on Thursday as a U.S. chipmaker sell-off spilled into the region, with SK Hynix plunging 11.5% in Seoul and reversing its previous session's 8% rally. U.S. chip losses overnight included Micron sinking 8%, Intel dropping over 4%, and Lam Research and AMD each falling about 3%, weighing on the SOX index for a second straight session.

Why it matters: Analysts attribute the rout to profit-taking after a sharp AI-driven rally, a proposed New York data-center construction moratorium, and concerns about crowded semiconductor positions now making up roughly 20% of the S&P 500.