Mixed Signals on Wall Street as Korean Semiconductor Stocks Plunge Amid AI Investment Concerns

On the 28th, the New York stock market opened with mixed signals amid divergent trends in technology and cyclical stocks. The sharp decline in Korean memory semiconductor stocks dampened investor sentiment towards AI investments, leading to a drop in the Nasdaq, while the Dow Jones Industrial Average showed an upward trend. At the start of trading, the Dow was up 375.62 points (0.72%) at 52,585.70, the Nasdaq Composite fell 177.16 points (0.71%) to 24,754.92, and the S&P 500 decreased by 0.57 points (0.01%) to 7,412.61. In the Korean stock market, SK Hynix and Samsung Electronics dropped more than 14% and 13%, respectively, causing the KOSPI index to fall over 10%. Reports that Nvidia is considering a $250 billion funding plan for OpenAI heightened investor concerns. Conversely, the Dow maintained a solid trend due to expectations of corporate earnings, with Coca-Cola exceeding market expectations for its second-quarter results and raising its annual outlook. International oil prices continued to decline amid easing tensions in the Middle East, with WTI futures down 1.80% at the start of trading. Investors are focusing on the upcoming FOMC meeting and the release of the consumer confidence index.