Why SK Hynix Plunged Today
Yahoo Finance ·
Shares of memory maker SK Hynix ( SKHY -13.40% ) plunged 13.4% on Thursday, amid a bloodbath for the broader semiconductor sector . It appears investors were caught off guard by the magnitude of the Democratic "wave" in Tuesday's midterm election, and now might be contemplating limits or bans on data center build-outs . Some post-election statements by Democratic lawmakers have also fed into those fears today. Additionally, it appears that SK Hynix is having problems with the U.S. Commerce Department. The agency has continued to hold up export licenses for chipmaking equipment shipments to SK Hynix's NAND flash plants inside China.
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