EL7.AI
StocksMedium•23 June 2026•
2 min read

Nasdaq Futures Slide as South Korean Chip Crash Ignites AI Spending Fears

Key Facts

1Nasdaq futures tumbled 2.7% and S&P 500 futures fell 1.3% amid renewed concerns over AI costs.
2Samsung Electronics and SK Hynix slumped over 10% in Seoul following reports of slowing AI memory chip production expansion.
3SpaceX shares fell 4.3%, dropping below its first-day trading price of $150.

Amid mounting concerns over the escalating costs of AI infrastructure, global markets experienced a sharp selloff triggered by a crash in Asian semiconductor giants. Nasdaq futures tumbled 2.7% and S&P 500 futures fell 1.3%, driven by a slump of over 10% in Samsung Electronics and SK Hynix shares in Seoul. Additionally, SpaceX shares dropped 4.3%, falling below its first-day trading price of $150, as investors begin to question the immediate return on investment for massive AI capital expenditures.

The contagion spread to major sector peers, with market data showing NVDA trading at $208.65 and MU at $1211.38 (close June 22, 2026). This volatility follows reports that SK Hynix is slowing its AI memory production expansion to pivot back toward commodity DRAM, reigniting anxiety over a potential peak in AI demand. For context, peer TSM closed at $467.67 per market data, reflecting a broader sector-wide re-rating ahead of critical earnings reports from the likes of Micron Technology.

Traders should watch for technical support levels as Nasdaq futures test new lows, with AAPL sitting at $300.27 (June 23, 2026). Looking ahead, the economic calendar features UK Inflation data and the Riksbank rate decision on June 17, which may further influence global risk appetite. The primary focus remains on whether this semiconductor slide is a temporary correction or a fundamental shift in the AI growth narrative as infrastructure costs come under closer scrutiny.