TradingKey – Tech stock selling pressure re-emerges as memory stocks drop in unison, with SK Hynix tumbling 3%.
On October 16 US Eastern Time, the memory sector continued to face heavy market selling and correction pressure, with memory giants led by SK Hynix continuing to weaken. Among them, SK Hynix (SKHY) fell 3.03%, Micron (MU) and SanDisk (SNDK) both fell over 2%, while Western Digital ( WDC) and Seagate Technology (STX) dropped about 1.5%.
SK Hynix stock chart, Source: TradingView
Over the past five trading days, memory stocks generally continued to fall, with SK Hynix and SanDisk dropping a cumulative ~15%, Micron and Seagate Technology down 12%, and Western Digital falling over 10%.
The primary reasons for the memory sector’s recent…
