South Korea’s KOSPI index fell 9.9% amid discussions regarding taxes on unrealized stock gains, negatively impacting memory names like Samsung and SK Hynix. Volatility in SpaceX and $SPCX, which returned to its IPO price, along with $TSLA, is contributing to selling pressure ahead of $MU earnings. Market sentiment is further weighed down by BofA projecting three potential rate hikes this year.