NVIDIA, SK hynix ADR plunge together as semiconductor stocks shaken by ‘AI slowdown’ concerns

[Financial News] All three major U.S. stock indexes closed lower as U.S. Treasury yields and international oil prices rose together.
On the 14th (local time), the Dow Jones Industrial Average (DJIA) closed at 52,421.20 on the New York Stock Exchange (NYSE), down 152.09 points, or 0.29%, from the previous session.
The Standard & Poor's 500 Index (S&P 500 Index) fell 37.00 points, or 0.48%, to 7,619.98. The technology-heavy NASDAQ Composite Index also ended trading at 26,186.41, down 146.62 points, or 0.56%.
Selling spread across technology stocks as the so-called argument for slowing the pace of AI development drew market attention.
NVIDIA, regarded as a leading AI stock, fell 3.36%. Major semiconductor stocks also posted steep declines, including Broadcom, down 4.77%; Intel, down 5.59%; AMD, down 4.40%; Micron Technology, down 5.25%; and SK hynix ADR, down 7.60%.
Marvell Technology, a semiconductor design company, fell 7.32%, while semiconductor equipment makers Lam Research, down 8.29%, and ASML, down 7.25%, also recorded sharp losses.
Investor sentiment weakened as key figures in the AI industry backed the need to slow the development of cutting-edge AI systems.
Dario Amodei, CEO of Anthropic, warned of the potential misuse of AI in a blog post on the 12th (local time). He urged companies to slow model development to establish safeguards, and SpaceX CEO Elon Musk responded, "He is right."
Microsoft's AI researchers also issued new AI development guidelines that day, centered on the principle that "people are more important than AI."
Matt Maley of Miller Tabak + Co. (MT), a U.S. financial firm, said, "If recent developments delay the point at which returns on AI investments are realized, it is only natural for investors' enthusiasm to cool."
The sharp rises in international oil prices and U.S. Treasury yields also weighed on technology stocks.
Brent crude futures for November delivery on ICE Futures Europe settled at $105.68 per barrel, up 1.02% from the previous session.
On the New York Mercantile Exchange (NYMEX), U.S. West Texas Intermediate (WTI) crude futures for October delivery closed at $101.39 per barrel, up 1.34% from the previous session.

The yield on the 10-year U.S. Treasury note rose above 5% during trading, reaching its highest level since October 2023. It later pared its gains and stood at 4.987% late in the session, up about 0.01 percentage point from the previous trading day.\u00a0

[email protected] Han Seung-gon Reporter