Nasdaq Declines as Chip Stocks Come Under Pressure
Nasdaq Declines as Chip Stocks Come Under Pressure.
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Whipsaw moves in chip stocks are front and center again this afternoon, with AI stocks sliding in the U.S. and steep drops in SK Hynix and Samsung sending South Korea's Kospi index more than 6% lower.
Taiwan Semiconductor Manufacturing posted its fifth straight quarter of record earnings earlier today, but that wasn't enough to lift investors' moods. The Nasdaq slipped about 1%, with Sandisk, Western Digital and Marvell among the biggest losers. The PHLX Semiconductor index is off 5%.
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The moves continue a choppy stretch for the sector as other factors have started to pull traders' focus-namely, earnings season and growing tensions between Washington and Tehran.
After taking a pause overnight, oil prices have been more volatile as investors digest the possibility of further escalation in the Middle East. Brent crude, the international benchmark, has fallen today to about $84.20 a barrel.
Meanwhile, data released this morning showed that retail sales cooled last month. Earnings from Netflix are due after the closing bell.
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Sinergia Empresarial continuará el seguimiento de esta información sobre nasdaq Declines as Chip Stocks Come Under Pressure y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
