TradingKey – On July 13, Eastern Time, the memory stock sector suffered an overall setback today. As of press time, SanDisk ( SNDK) fell 12.32%, SK Hynix ( SKHY) fell 8.97%, Western Digital ( WDC) fell 6.97%, Seagate Technology ( STX) fell 5.86%, Micron Technology ( MU) fell 4.99%.

Notably, the decline in the memory sector is inextricably linked to the sell-off in the South Korean stock market—South Korea’s KOSPI plunged over 8% to trigger a circuit breaker, SK Hynix plummeted 15%, and Samsung fell over 10%.

[Source: FutuBull]

Market analysis indicates that this round of sell-off was mainly due to profit-taking following SK Hynix’s listing on the US stock market, as well as the downgrade of its earnings forecast by Korea Investment &…