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Memory chip shares drop as Treasury yields near 4.91%

  • Memory chip shares fell despite JPMorgan’s positive view of SK Hynix.
  • 4.91% Treasury yields and surging oil prices drove the selloff.
  • JPMorgan assigned SK Hynix an Overweight rating and high price target.

Shares of memory chipmakers SK Hynix, Micron and Western Digital dropped significantly as Treasury yields approached 4.91% and oil prices surged. The selloff came despite JPMorgan’s Overweight rating and high price target for SK Hynix. Rising yields can pressure equity valuations by increasing borrowing costs and reducing the appeal of riskier assets.

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