US Stocks Movement | Storage Concept Stocks Continue Decline at Market Open, SK Hynix (SKHY.US) Falls Over 7%

智通财经APP reported that on Thursday, storage concept stocks continued their downward trend at the opening. SK Hynix (SKHY.US) dropped more than 7%, SanDisk (SNDK.US) decreased over 6%, Western Digital (WDC.US) and Seagate Technology (STX.US) both fell more than 5%, and Micron Technology (MU.US) declined over 3%. According to reports, South Korea will temporarily suspend the listing of new individual stock leveraged ETFs to curb market volatility. The Financial Services Commission (FSC) stated in a Thursday announcement that the ban will remain in effect until market conditions stabilize. Regulators will also raise the minimum margin requirement (i.e., the minimum cash account balance required) for trading leveraged ETFs from 10 million KRW to 30 million KRW (approximately $20,300), which is expected to take effect starting August 5th. Under mounting liquidity pressure, SK Hynix shares in the Korean market dropped over 11%.