SK Hynix's Collapse in Chip Crisis Shakes Big Tech Earnings Expectations

South Korea's leading chipmaker SK Hynix saw its stock plunge nearly 10% after missing forecasts of a six-fold jump in quarterly profits. The KOSPI, weighed down by its chip-heavy portfolio, fell as much as 12.6% but closed down 6%, returning to levels last seen in early April. Samsung is also set to report this week. While U.S. stocks rebounded with Apple briefly topping $5 trillion, the Korean crisis has heightened investor concerns ahead of Microsoft and Meta's earnings. High and rising AI capex at Alphabet and Tesla have raised concerns, while S&P 500's quarterly earnings growth estimates have surged to 39%. The Federal Reserve's most uncertain meeting yet is compounded by Iran tensions pushing crude prices back above $87. How will markets react to this volatile mix?