Yulia Slavina

Jesse Cohen: SK Hynix loses $85 billion in value as shares drop 10%

Jesse Cohen: SK Hynix loses $85 billion in value as shares drop 10%
SK Hynix shares tumble on China concerns

Shares of SK Hynix fell 10% in Korea, wiping out $85 billion in market capitalization, or about 118 trillion won. The drop erased roughly a tenth of the company's total value. According to Jesse Cohen, a senior markets analyst at Investing.com, the selloff was driven by increasing concerns over Chinese competition in the DRAM market.

Cohen has previously highlighted volatility in Korean markets, noting when the Kospi Index fell nearly 4 percent overnight. In another report, he tracked the surge in AMD shares as they hit a record $1 trillion market valuation. These moves reflect a series of significant shifts tracked by the analyst in recent months.

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