The Stock Market and a “Phenomena of our Lifetimes”

SK Hynix Inc. signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Friday, July 10, 2026. SK Hynix Inc. raised $26.5 billion in its American depositary receipt offering, as the South Korean memory chipmaker powered through volatility to deliver the largest ever US first-time share sale by a foreign company. Photographer: Michael Nagle/Bloomberg