Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards
Square
Latest
Hot
News
Profile

Meta's Impact on AI Stocks Leads to Continued Market Decline in Korea

AirdropBlackHole
robot
Abstract generation in progress
On July 2, news that "Meta plans to build its own cloud business and sell surplus AI computing power" ignited the market, with interpretations suggesting that capital expenditures from large-scale firms have peaked. Meta surged 8.81%, marking its best performance in six months, while stocks of companies that supply storage chips faced significant sell-offs. The S&P 500 closed at 7485.02 points, down 0.19%; the Dow Jones Industrial Average closed at 52305.24 points, nearly unchanged; the Nasdaq Composite fell 0.66%, with the Nasdaq 100, primarily composed of chip and momentum stocks, dropping 1.5% to close at 29809.13 points. Some market analysts believe that the market is re-evaluating the pricing logic of the computing power supply chain. Concerns are rising that large-scale firms are slowing down their procurement, directly impacting the "shovel sellers" in storage and semiconductor sectors. According to BIT (bit.com) market data, AI-related U.S. stocks plummeted across the board: major stock Micron closed down 10.57%, AMD fell 6.8%, and NVIDIA dropped 1%. In the storage sector, SanDisk led the decline with a drop of 10.62%, while STX and WDC both fell over 5%. Mid-cap stocks represented by the CPO concept experienced even sharper declines, with GLW down 13.62%, AAOI down 6.18%, and MRVL down 8.71%. AI infrastructure stocks, which had performed well in recent days, also saw significant pullbacks, with AMAT and LRCX both falling nearly 10%. This morning, the Korean stock market continued its downward trend, with the Korean index opening down 5% before hitting a circuit breaker. The Nikkei 225 index saw a daily decline of 2.00%. Notably, as the AI frenzy cools, Bitcoin seems to be attracting some capital back, rebounding to over $61,000 last night and this morning.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments

  • Pinned

Sitemap