Is NQ Breaking Down from a Triple Top as Chip Stocks Get Absolutely Wrecked?
South Korea’s KOSPI crashed nearly 10% today after regulators warned that leveraged chip ETFs had become dangerously overheated. Samsung and SK Hynix both plunged over 12%, triggering trading halts.
The selloff in Korean memory giants immediately spilled over to US semis, with MU dropping 13.7% and heavy losses across AMD, MRVL, ARM, ASML and other chip names.
Micron reports earnings tomorrow after the close — is this just pre-earnings profit-taking or the beginning of a bigger reset in the AI trade?
What’s your take on the NDX move and where it heads from here?
u/Beyos — 13 days ago