Memory Stocks Slide as Rates and Oil Swamp JPMorgan's Overweight Call: SK Hynix Sinks 5%, Western Digital Drops 3%, Micron Slips

SK Hynix shares fell 5% to $189.47 in early Thursday trading, leading a broader memory-chip selloff despite JPMorgan initiating coverage at Overweight with a $245 price target. The decline indicates near-term sector selling pressure is outweighing the bullish analyst call, although the target implies roughly 29% upside from the cited share price.