Chip, memory, and optical communication stocks fell across the board. The Philadelphia Semiconductor Index dropped 3%. ARM Holdings plunged nearly 10%, Qualcomm sank more than 7%, while Intel, SanDisk Corp., SK hynix, and Lumentum each declined over 6%. AMD and Western Digital fell more than 5%, and Micron Technology dropped over 4%.
NVIDIA, however, bucked the trend, rising more than 2%.
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