SK hynix ADRs Fall 3.95% as AI-Related Stocks Slip Before U.S. Open

AI-related shares fell in U.S. premarket trading Tuesday, Oct. 20, with SK hynix (SKHY) American depositary receipts down 3.95% as optical-component and storage stocks also declined.

SK hynix had closed Monday up 4.67%. Applied Optoelectronics (AAOI) fell 3.66% before Tuesday’s open after closing the previous session up 3.48%. The premarket moves were measured before the regular U.S. trading session.

Other optical-component stocks also moved lower. Coherent (COHR) fell 2.22%, Lumentum (LITE) lost 2.09%, Marvell Technology (MRVL) declined 2.04% and Nokia (NOK) slipped 1.21%.

The declines extended across the storage group. Micron Technology (MU) dropped 2.18%, Sandisk (SNDK) fell 2.13% and Seagate Technology (STX) declined 0.76%. SK hynix had the largest premarket drop among the nine stocks with stated declines.