U.S. Stocks Open Mixed; SK Hynix Plunges 9% Amid Profit-Taking, Easing Earnings Optimism

Tiger Newspress07-13 21:30

The S&P 500 fell on Monday, with chipmakers following international peers sharply lower, as traders weighed the latest events in the Middle East and braced for a slew of corporate earnings reports due out later in the week.

The broad market index lost 0.3%, while the Nasdaq Composite was down 0.7%. The Dow Jones Industrial Average traded around the flatline.

SK Hynix shares dropped 9% as investors booked profit, ‌after a high-profile U.S. listing saw the world's leading AI memory chipmaker surge 12.8% in its Nasdaq debut on Friday.

Ryu Young-ho, a senior analyst at NH Investment & Securities, said investors were profit-taking after the conclusion of the U.S. listing, while sentiment also suffered from caution with regards to SK Hynix's second-quarter earnings.

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