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U.S. stocks closed lower; Hynix ADR fell more than 13%. The semiconductor index officially entered a technical bear market, down 22% cumulatively from the June peak.
BlockBeats report, July 17, according to market data from BIT (bit.com), all three major U.S. stock indexes fell collectively; the Dow fell 0.2%, the Nasdaq fell 1.47%, and the S&P 500 fell 0.51%. The Philadelphia Semiconductor Index fell 4.3% in a single day; the semiconductor sector has already cumulatively fallen 22% from the mid-June high, officially entering a technical bear market.
Semiconductor and memory-related stocks plummet: SK Hynix ADR fell by more than 13%, SanDisk fell by more than 12%, Micron fell by more than 5%, Western Digital fell by more than 9%, and Seagate Technology fell by 10%.