BUSINESSJul 7 · 05:02 UTCWPLG LOCAL 10 MIAMIBy ELAINE KURTENBACH, Associated Press

Asian markets retreat after rebounding AI stocks send the S&P 500 to brink of a new record

Asian markets declined sharply despite AI stocks rebounding on Wall Street, pushing the S&P 500 near a record. South Korea's Kospi fell 7.6% as Samsung Electronics and SK Hynix dropped 8.7%, even as Samsung reported a 19-fold surge in operating income. SK Hynix plans a $28 billion U.S. IPO amid AI sector volatility.

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Samsung ElectronicsorganizationSK HynixorganizationS&P 500topicNasdaq CompositetopicDow Jones Industrial AveragetopicBroadcomorganizationSpaceXorganizationTeraWulforganizationAnthropicorganization

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