Chip stocks fall as sector posts largest single-day drop in six years
Shares of two major semiconductor companies declined sharply after broader sector losses reached their steepest level since 2020. The move followed a wider market selloff that hit technology names hardest.
freepressjournal.inShares of two chipmakers fell sharply on Thursday as the semiconductor sector recorded its largest single-day decline in six years. The drop came amid a broader retreat in technology stocks, with selling pressure concentrated in companies tied to memory and data-center components.
Trading volume in the sector rose above recent averages as prices moved lower throughout the session. Market participants pointed to concerns over demand forecasts and inventory levels as contributing factors.
The semiconductor industry has faced repeated swings this year tied to shifting expectations for artificial-intelligence spending and consumer electronics orders. Thursday's move marked the largest percentage decline for the group since mid-2020, according to @MarketWatch.
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