韩国 The Korean stock market is closed today, successfully dodging last night’s semiconductor slump in the U.S. market. But that 2x SK Hynix ETF in the Hong Kong market wasn’t so lucky. It’s down another -16% today. From its peak, it’s already retraced -75%. This isn’t a pullback. This is turning a leveraged ETF into a "zero simulator." One more reminder: Leveraged ETFs ≠ Long-term holding. When it’s up, it feels like cheat mode. When it’s down, not even a bull market can save you. The biggest risk in a bull market isn’t getting the direction wrong. It’s holding high leverage and thinking you’re investing.