Crypto markets saw another major plunge. The transmission chain is different from the usual this time—really peculiar～

Previously it was something like “Trump Taco,” or tensions between the US and Iran escalating, driving oil prices higher and inflation worsening—so the crypto market fell. Or it was ETF outflows from Wall Street, or the US stock market dropping, and 📉 intensified the selloff in BTC and other crypto assets.

This time, it’s because: Americans heard that China is going to build lithography machines!

US tech media《The Information》was first to report: a company headquartered in Shanghai has begun producing immersion deep ultraviolet (DUV) lithography machines. The report did not disclose the company’s name, but the planned R&D team comes from Chinese firms including Shanghai Ulyangsheng and others.

All morning on Monday, the Amsterdam market was in the green, but ASML’s share price fell 8.3%. Other European and US peers’ stocks were also hit by the same news. Netherlands ASM International shares fell 7.3%, Netherlands BE Semiconductor Industries (BESI) shares dropped 9.9%, US Applied Materials shares slid 6.7%, and US Lam Research shares dropped 7.9%.

With semiconductors leading the decline, Japanese and South Korean stock markets also took a heavy hit on Tuesday (July 28). Japan’s Nikkei 225 index at one point fell 4%, dropping to its lowest level since May 22. South Korea’s Kospi at one point plunged 7.6%, setting the lowest level since April 20.

Semiconductor equipment stocks led the rout, including Tokyo Electron, Kioxia, Samsung Electronics, and SK hynix. SK hynix at one point fell 30%, the biggest single-day drop on record; Kioxia at one point fell 18%, the largest drop since last November.

Isn’t that extremely amazing?

And South Koreans nearly couldn’t afford a 60-krw fast-food meal because of this news—what the f***!