NEW YORK — SK Hynix's American depositary receipts fell about 9 percent Monday following a strong debut on the Nasdaq, as investors booked profits after the South Korean chipmaker's record $26.5 billion U.S. listing and broader concerns weighed on artificial intelligence-related semiconductor shares.

The pullback came one trading day after the ADRs surged more than 12 percent in their first session. SK Hynix, a leading supplier of high-bandwidth memory chips crucial for AI systems, raised funds through the offering to expand production capacity amid surging demand from companies like Nvidia.

In Seoul, the company's underlying shares plunged more than 15 percent, contributing to a sharp decline in the KOSPI index that triggered a brief trading halt. The drop marked one of the largest one-day percentage declines for the stock in nearly two decades, reflecting profit-taking after a multi-year rally fueled by the AI boom.

U.S.-listed peers also weakened. Micron Technology fell around 5 percent, SanDisk dropped 6 percent and Seagate Technology declined 4 percent. AMD and Intel each lost 3 to 4 percent. The Philadelphia Semiconductor Index slipped amid the sector rotation.

The S&P 500 declined 0.3 percent, while the Nasdaq Composite fell 0.9 percent. The Dow Jones Industrial Average bucked the trend, rising 88 points or 0.2 percent, supported by relative strength in non-tech sectors.

Market participants pointed to several factors behind the sell-off. Profit-taking after SK Hynix's blockbuster debut played a central role, as the ADRs traded at a premium to the Seoul shares. Geopolitical risks in the Middle East, including renewed U.S.-Iran tensions and disruptions in the Strait of Hormuz, added caution, pushing oil prices higher and prompting some risk-off........

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