US Stocks Plummet Again After Chipmaker Comeback Sputters
Business Insider • • business
Key Points:
- Stocks experienced a sharp decline after an early rally, with the Nasdaq 100 falling nearly 4% during the session, led by a significant sell-off in the semiconductor sector.
- The VanEck Semiconductor ETF dropped nearly 7% at its lowest point, with major chip stocks like Micron Technology and Broadcom also seeing notable losses.
- Major indexes closed mixed: the S&P 500 fell 0.26%, the Nasdaq 100 dropped 1.12%, while the Dow Jones Industrial Average rose 0.2%, reflecting volatile market conditions and increased investor profit-taking.
- Market volatility increased, as indicated by a 10% rise in the VIX index, with some analysts attributing the sell-off to profit-taking after recent record highs and speculation about upcoming SpaceX stock trading.
- Meanwhile, oil prices declined sharply, US Treasury yields rose, and President Trump commented on ongoing Iran negotiations and a recent helicopter incident in the Strait of Hormuz, blaming Iran but noting investigations are still underway.