A cold wave swept through the New York stock market last Friday, triggering a sharp decline in the Nextrade pre-market.
As of 8:21 a.m. (South Korean time) on Monday, the Nextrade pre-market was down 1.17%.
SK Hynix saw its stock price fall below the 900,000 KRW (about 617 USD) threshold, trading at 884,000 KRW (about 606 USD), a decrease of 25,000 KRW (about 17.13 USD) (2.75%) from the previous trading day. Other major stocks, including Samsung Electronics and Hyundai Motor, also experienced declines of 1.25% and 2.30% respectively.
On January 30, despite strong performances from SanDisk and Apple, the New York stock market closed lower. Investors were wary of potential hawkish monetary policies following the nomination of former Federal Reserve Board member Kevin Warsh as chair.
The Dow Jones Industrial Average slipped 0.36%, while the S&P 500 index dropped 0.43%. The tech-heavy Nasdaq Composite fell 0.94%.
Microsoft’s underwhelming results fueled concerns about a potential slowdown in artificial intelligence (AI) infrastructure investment. Meanwhile, the nomination of Kevin Warsh eased worries about the Fed’s credibility, leading to a surge in speculative demand for precious metals like gold and silver, which subsequently plummeted.