EconomySK Hynix Drops as Profit Disappoints

SK Hynix shares fell by roughly 19% in Seoul on Wednesday, marking their largest one-day decline. The memory-chip maker reported second-quarter operating profit below expectations, prompting the stock to give up its early gains. After quarterly profit surged sixfold, the company set aside at least $31 billion for capital spending this year. The announcement heightened investor concern despite the strong profit growth.