SK Hynix's Korean Stock Suffers Steepest Fall on Record
Dow Jones07-13
SK Hynix's shares plummeted in South Korea today on the heels of the memory-chip maker's red-hot U.S. trading debut last week.
The company's shares closed down 15% in Seoul, their steepest fall on record.
The nosedive helped send South Korea's Kospi almost 9% lower, which triggered a 20-minute halt in trading. Rival Samsung Electronics's stock also slumped.
The decline marked an abrupt reversal in investor appetite after SK Hynix's American depositary receipts soared 13% Friday on their first trading day on the Nasdaq.
Still, SK Hynix shares are still up almost threefold over this year.
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