[Featured Stock] Naver Hits 52-Week Low... Possibility of 'Ultra Step' Implementation

[Asia Economy Reporter Kwon Jae-hee] Following the release of the US Consumer Price Index (CPI) for August, which exceeded expectations, the possibility of an 'ultra step' (a 100bp hike at once) at the September FOMC has caused the stocks of leading growth companies NAVER and Kakao to plunge sharply in early trading.

As of 9:48 AM on the 14th in the KOSPI market, NAVER is trading at 227,000 KRW, down 4.82% from the previous trading day. This marks a new 52-week low.

At the same time, Kakao is also down 4.71%, trading at 66,700 KRW compared to the previous day.

In the New York stock market yesterday, technology stocks sensitive to interest rate changes also showed a notable decline. Apple, Microsoft (MS), Alphabet, and Amazon all fell by about 5-7%, while Nvidia and Meta Platforms' stock prices plummeted more than 9%. Tesla dropped 4%, and Intel, Netflix, and Qualcomm also fell more than 6-7%.

Last month's CPI rose 8.3% year-on-year, significantly exceeding market expectations (8.0%) despite a decline in international oil prices.

As a result, investor sentiment has sharply cooled due to the perception that inflation is more severe and will last longer than anticipated.

This content was produced with the assistance of AI translation services.