Semiconductor Stocks Plummet Amid Global Market Turmoil

Wall Street's main indexes fell on Monday, led by a sharp decline in semiconductor stocks. The Nasdaq dropped 1.5%, while the Dow Jones and S&P 500 followed with declines of 0.3% and 0.8%, respectively.

The sell-off was triggered by South Korea's KOSPI index crashing nearly 9%, which sent shockwaves through global markets. Chip stocks, including SK Hynix, suffered significant losses after the company's U.S. trading debut via American Depositary Receipts ended in a drop of over 9%.

Bitcoin and other cryptocurrencies also fell as traders adjusted their rate expectations in response to rising inflation fears. The two-year U.S. Treasury yield climbed to 4.29%, its highest point since early last year, while Bitcoin's price dropped over 2% to around $62,380.