A global sell-off in technology stocks has intensely impacted the memory chip sector, driven by accelerating U.S. inflation and fears of further interest rate hikes. The decline is compounded by growing investor anxiety over increased competition from Chinese memory manufacturers, particularly following technological advancement announcements from China's CXMT and comments from Elon Musk about China's future RAM production. Concerns about the sustainability of high-cost AI infrastructure financing are also contributing to the negative sentiment.