[Market Focus] 'Diminished Hopes for End of War, TurboQuant Impact' Samsung Electronics and SK Hynix Weaken
Samsung Electronics and SK Hynix are showing weakness due to diminished expectations and the impact of Google's TurboQuant.
As of 9:15 a.m. on March 27, Samsung Electronics was trading at 173,600 won, down 3.61% (6,500 won) from the previous trading day, while SK Hynix was trading at 888,000 won, down 4.82% (45,000 won) from the previous session.
On March 26 (local time), U.S. President Donald Trump increased pressure on Iran, stating, "It's better to get serious before it's too late." As a result, the three major New York stock indexes closed lower. The Dow Jones Industrial Average ended at 45,960.11, down 469.38 points (-1.01%) from the previous closing. The Standard & Poor's (S&P) 500 Index closed at 6,477.16, down 114.71 points (-1.74%), and the tech-heavy Nasdaq Composite ended at 21,408.08, a drop of 521.74 points (-2.38%).
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In particular, following news that Google's released compression algorithm, TurboQuant, enables artificial intelligence (AI) models to process up to six times more data, shares of Nvidia (-4.16%), SanDisk (-11.02%), and Micron (-6.97%) fell sharply. The Philadelphia Semiconductor Index plunged by 4.79%.
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