Semiconductor ETFs Slide 8% as South Korea's KOSPI Plunges Nearly 10% on June 23

On June 23, South Korea's tech sector collapsed, with the KOSPI index dropping nearly 10%, triggering a spillover selloff in US semiconductor stocks. Memory chip giants Samsung Electronics and SK Hynix led declines in Asia, both falling double-digit percentages.

US semiconductor ETFs absorbed the pressure: VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX) each fell approximately 8%, while SPDR S&P Semiconductor ETF (XSD) and First Trust Nasdaq Semiconductor ETF (FTXL) dropped 6%-8%. Micron Technology's earnings report on Wednesday is viewed as a critical test for investor confidence, given the stock's exposure to high-bandwidth memory (HBM), a key component driving advanced AI systems.