[Featured Stock] Samsung Electronics Falls Over 5%... Below 76,000 Won

Samsung Electronics fell by more than 5%, breaking below the 76,000 won level.

As of 10:21 a.m. on the 5th, Samsung Electronics was trading at 75,600 won, down 4,000 won (5.03%) from the previous session. Samsung Electronics has continued its decline for three consecutive days, falling below 76,000 won.

Photo by Jo Yongjun jun21@

Amid global stock markets plummeting due to concerns over a U.S. economic recession, the stock price is showing weakness as Intel's earnings shock is also factored in. Intel's stock price plunged 26.05% on the 2nd. Poor earnings led to the stock price crash. Intel reported second-quarter revenue of $12.83 billion and adjusted earnings per share (EPS) of 2 cents, which is significantly below market expectations. According to Wall Street forecasts compiled by market research firm LSEG, the expected revenue was $12.94 billion and EPS was 10 cents. Additionally, Intel announced plans to reduce its workforce and suspend dividend payments.