Understanding the Market | Storage concept stocks lead the decline, Kioxia's stock price plummets, market value shrinks …

The global technology sector has experienced a comprehensive sell-off, with storage concept stocks leading the decline. Kioxia's stock price plummeted, with its market value shrinking by half from its peak; stocks such as GIGADEVICE and Montage Technology also saw significant declines. The market is concerned about the excessive rise in the AI industry and spending issues, leading investors to take profits. Despite TSMC's impressive Q2 performance, it failed to boost U.S. stocks and instead intensified the pressure to close crowded positions in AI trades