Nasdaq up +0.29%, S&P up +0.42%

U.S. stocks performed quite well last Friday, but before we could even enjoy the warmth for two days, today the market is a sea of misery. SK Hynix's Q2 earnings saw a significant recovery, with profits surging 556% year-on-year, but it was 8% below market expectations. The stock price plummeted over 15%. The market's appetite has grown, and this kind of direct negative news triggered the sell-off.

Coupled with escalating U.S.-Iran conflict and rising risk aversion sentiment, South Korea's KOSPI index plunged 8%, triggering a circuit breaker, dragging down the Asian memory sector. Capital markets only care about expectation gaps. Even with a huge increase in profits, if it falls short of expectations, it will still be sold off by funds.