SK Hynix Stock Loses All Its New York Gains in Seoul Crash

SK Hynix shares crashed 44% in Seoul on July 13—the worst day ever for the chipmaker—just four days after the company raised $26.5 billion selling shares in New York. The offering had attracted sevenfold more interest than available stock. The Seoul collapse happened as broader Asian stocks fell over Middle East tensions, wiping out the stock's early gains and showing how wider market turmoil can override individual company strength.