Global Tech Stock Slump Hits China, US, and Korean Markets

A broad sell‑off in technology equities has swept major markets. In the United States, the Philadelphia Semiconductor Index fell 16.7% on July 17, and leading chip makers such as Broadcom, Micron and Seagate dropped 5%‑12%. South Korea’s KOSPI fell 6.4%, with SK Hynix and Samsung Electronics down over 8% and 10% respectively. In China, the CSI 300 and the Sci-Tech Innovation 50 index each slipped more than 7%, while semiconductor and AI‑related stocks like Zhaoyi Innovation and Cambricon suffered declines of 30%‑45%. The correction follows a rapid rally earlier in the year, where many tech stocks had doubled or tripled in price, prompting profit‑taking and heightened concerns over valuation and earnings. Analysts cite over‑extended price gains, mixed earnings results, and broader concerns about excess capacity in the semiconductor and storage sectors as drivers of the reversal.