U.S. Treasury yields are surging higher again—late last night, the 10-year yield pushed above 4.4%. This thing is essentially a cash-sucking machine for global risk assets. $SKHY fell from 164 to 157.66; with $85 million in trading volume over 24 hours, the money flow is unusually honest.
This round in memory chips follows two different logic paths from the broader market index. SK hynix is a core part of NVIDIA’s HBM supply chain. In the third quarter, its HBM sales doubled quarter-over-quarter—so the fundamentals haven’t really changed. But in the short term, pricing power is in the hands of macro conditions. When rate expectations tighten, foreign investors first cut valuations on technology stocks priced at the high end. $SKHY , which has been running at elevated levels for about a year, naturally gets hit first.
Over in the next stock, $NVDA opened lower last night but rallied higher, lifting back by about 1.2% during the day—showing that the AI narrative hasn’t collapsed. The current pullback in $SKHY looks more like digestion of the prior rally’s gains. Downside support to watch is around 155—that’s the dense trading zone where this leg of the up-move accumulated volume. If macro conditions don’t add further pressure, capital should gradually flow back along the earnings-driven storyline.
This round in memory chips follows two different logic paths from the broader market index. SK hynix is a core part of NVIDIA’s HBM supply chain. In the third quarter, its HBM sales doubled quarter-over-quarter—so the fundamentals haven’t really changed. But in the short term, pricing power is in the hands of macro conditions. When rate expectations tighten, foreign investors first cut valuations on technology stocks priced at the high end. $SKHY , which has been running at elevated levels for about a year, naturally gets hit first.
Over in the next stock, $NVDA opened lower last night but rallied higher, lifting back by about 1.2% during the day—showing that the AI narrative hasn’t collapsed. The current pullback in $SKHY looks more like digestion of the prior rally’s gains. Downside support to watch is around 155—that’s the dense trading zone where this leg of the up-move accumulated volume. If macro conditions don’t add further pressure, capital should gradually flow back along the earnings-driven storyline.