$Micron Technology(MU)$ $Roundhill Memory ETF(DRAM)$ $Invesco QQQ(QQQ)$ $SPDR S&P 500 ETF Trust(SPY)$ Quick breakdown of why markets are showing all red today.
A hawkish Fed plus BofA calling for three rate hikes, combined with hyperscalers sliding on Monday over AI capex concerns. That hit Korea at the open, which is the most leveraged AI market globally (KOSPI up 177% YoY, Korean retail investors heavily loaded on margin).
Forced selling triggered circuit breakers, and panic compounded. Then US pre-market algos probably also just dumped into the gap down. Underlying demand hasn't changed; it's more about unwinding leveraged positions.
High Korean leverage means stocks can rally fast, but they can fall just as quickly.
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