Kioxia dives 16% as AI stocks face deleveraging

MarketsJapanese memory maker hits daily limit as semiconductor stocks tumble in Asia and USAcross Asian markets, equity benchmarks declined on Friday, led by a sharp selloff in AI proxy stocks. (Photo by Kazuho Fujiwara)JADA NAGUMOJuly 17, 2026 12:29 JSTTOKYO -- Japanese memory maker Kioxia Holdings was down 16% on Friday as investors unwind their previously accumulated leverage against tech stocks amid concerns over the longevity of the AI-led rally.