SK Hynix plummeted 12% The reason for the drop is that Kis Securities lowered SK Hynix's Q2 performance expectations, saying their product sales fell short of expectations. Also, there's a price gap between Korean stocks and U.S. stocks. Funds prefer buying stocks in USD rather than KRW. SpaceX's first day of listing also saw a sell-off, just not as much as this. Cash-out after IPOs, right? Same logic as the crypto world.