Editorial companion

What stands out

Samsung and SK Hynix plunged more than 7% in Seoul after losses in U.S. chip makers sent the Philadelphia Semiconductor Index down 5%, Bloombergs Winnie Hsu reports. The clip captures a rapid reversal in what had been one of the year s hottest trades, showing momentum can vanish faster than earnings seasons. For investors who treat semiconductors as a single asset class, this selloff is a reminder that memory, foundry and GPU businesses behave very differently when demand shifts.