Arm And Marvell Tumble As Chip Stocks Sell Off

Chip stocks sold off on Monday despite an upbeat report from Taiwan Semiconductor Manufacturing (TSM). Arm Holdings (ARM) and other top chip stocks broke support. In late morning trades on the stock market today, the Philadelphia semiconductor index, known as SOX, dropped more than 3%. The SOX includes the 30 largest chip stocks traded in the U.S. Among SOX components,…