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Samsung, SK Hynix Stocks Plunge Amid Inflation and AI Concerns
Samsung Electronics and SK Hynix saw significant declines in their stock prices on Wednesday. The declines were attributed to higher-than-expected September inflation, which raised fears of more aggressive Federal Reserve rate hikes. The Nasdaq and S&P 500 experienced their biggest daily drops in months, while the Dow held up better. Asian markets also saw declines, with South Korea halting trading due to chip stocks' sharp fall. TSMC raised its 2026 outlook despite record quarterly profits, but chip stocks continued to fall due to concerns about AI funding and higher interest rates. Oil prices slipped despite rising conflict risks and warnings of tight diesel supplies through 2027.