Multiple U.S. AI-related stock perpetual contracts listed on Binance plunged during early morning trading hours on October 18 before partially recovering. Micron (MU) fell as much as 6.32%, hitting a low of $818.57, while SK Hynix (SKHY) dropped up to 6.30% to $127.68. Both have since rebounded to $864.55 and $135.14 respectively.
Other affected tickers included Western Digital (WDC), which slid 7.03% to $298.7 before recovering to $319.31; Nebius (NBIS), down 6.97% to $155.12 before bouncing back to $165.76; Applied Optoelectronics (AAOI), off 6.93% to $70.04; IREN, down 6.92% to $24.88; SanDisk (SNDK), off 6.1% to $1,215.35; and CoreWeave (CRWV), which dipped 5.87% to $57.55. All contracts had recovered from their intraday lows by the time of reporting.
Binance Perpetual Contracts on U.S. AI Stocks Tumble Overnight, Micron and SK Hynix Drop Over 6%
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