US memory chip stocks extend selloff; SanDisk plunges over 17%

Cointime reports: US memory and storage chip stocks deepened their selloff on November 5, with the Philadelphia Semiconductor Index falling 8.31%. SanDisk dropped 17.09%, Kioxia’s ADR fell 15.20%, Micron Technology lost 12.57%, Western Digital slid 13.48%, Seagate Technology declined 13.43% and SK Hynix fell 10.80%, as the memory chip and hard drive supply chain sold off across the board.