US Stock Market Move | Storage concept stocks continue to decline at the opening, with SK Hynix (SKHY.US) falling more than 7%.

On Thursday, storage concept stocks continued to fall at the opening, with SK Hynix (SKHY.US) dropping more than 7%, SanDisk (SNDK.US) dropping more than 6%, Western Digital Corporation (WDC.US), Seagate Technology Holdings PLC (STX.US) dropping more than 5%, and Micron Technology, Inc. (MU.US) dropping more than 3%. On the news front, South Korea will temporarily halt the listing of leveraged exchange-traded funds (ETFs) on individual stocks to curb market volatility. The Financial Services Commission (FSC) of South Korea said in a statement on Thursday that the ban will be in place until market conditions stabilize. Regulators will also raise the minimum margin requirement for trading leveraged ETFs (i.e. the minimum balance required in a cash account) from 10 million South Korean won to 30 million South Korean won (approximately 20,300 US dollars), which is expected to take effect on August 5. SK Hynix's South Korean stocks fell by more than 11% due to increased pressure from liquidity tightening.