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SK Hynix Plunges 10% Amid Tech Sector Sell-Off
SK Hynix and Samsung shares fell over 10% as Asian tech stocks followed Wall Street's decline. Fears of higher interest rates, rising AI costs, and stronger competition from China weighed on investors despite strong AI demand. The sell-off comes as investors grow increasingly concerned that higher borrowing costs could weigh on the massive capital spending required to build out AI infrastructure, putting pressure on technology companies that have benefited from the AI investment boom.