Goldman Sachs: Leveraged ETFs Magnified SK Hynix's 14.7% Drop

SK Hynix fell 14.7% on July 28, 2026, in a global memory chip selloff driven by China's CXMT entry and AI funding concerns. Goldman Sachs blamed the severity on unwinding in newly launched 2x leveraged ETFs — funds designed to double daily returns — holding $15–20 billion tied to the stock. This mechanical amplification was absent in prior sector drawdowns.