US Stocks Movement: Snowflake Plunges on September 28 Due to Convertible Bond Financing, Potential Dilution, and Weakness in Tech Stocks

According to insiders, AMD (AMD.US) CEO Lisa Su plans to meet on Wednesday with Jeon Young-hyun, Vice Chairman in charge of Samsung Electronics’ key semiconductor division. This is another recent face-to-face exchange between two major figures in the AI industry. In March this year, AMD reached a supply agreement with Samsung to procure next-generation high-bandwidth memory and advanced memory chips.

AMD CEO Lisa Su plans to meet with the head of Samsung Electronics' semiconductor business on Wednesday.

According to a South Korean lawmaker’s office, retail investors have lost an estimated 2.3 trillion KRW (about 1.7 billion USD) in just a few months from investing in leveraged exchange-traded products tracking the country’s two largest chipmakers. This is the first time the scale of risk involved in such bets has been revealed. The office of opposition People Power Party lawmaker Choi Eun-suk stated that between May 27 and August 14, clients of 10 South Korean brokerages suffered these losses by investing in single-stock ETFs and related notes linked to Samsung Electronics and SK Hynix. Since these single-stock products were launched in May, they have intensified the AI-driven volatility in the Korean stock market. Previously, leveraged bets had made the market one of the world’s best performers, but a subsequent reversal caused severe consequences. The sharp volatility triggered by these high-risk products has prompted regulators to take action to curb retail investor mania, resulting in a significant drop in trading volume.

According to statistics from the State Administration of Foreign Exchange, as of the end of September 2026, China’s foreign exchange reserves stood at $3,400.3 billions, down by $38.1 billions from the end of August, a decrease of 1.11%. In September 2026, affected by the global macroeconomic environment and monetary policies of major economies, the US dollar index rose and the prices of major global financial assets generally declined. Due to the combined effects of exchange rate conversion and asset price changes, the scale of foreign exchange reserves declined during the month. Overall, China’s economy operated smoothly, with momentum shifting towards new growth drivers and structural optimization; high-quality development achieved new results, which is conducive to maintaining the basic stability of the foreign exchange reserves.