Nasdaq 100 falls over 500 points as chip stocks tumble
Business
The US stock market had a rough Tuesday, with the Nasdaq 100 sliding more than 500 points (1.7%), mostly because big-name chip stocks took a dive.
The broader Nasdaq Composite was also down 1.3%, and even the S&P 500 and Dow slipped, showing just how much tech stocks can shake things up.
Semiconductor giants fall amid oil, yields
Semiconductor giants like NVIDIA and Broadcom dropped 2.5% and 3.5%, but it was Intel, Micron Technology, and SK Hynix ADR that really felt the pain, falling 7% to 9%.
Rising oil prices (thanks to fresh Middle East tensions) and US bond yields hitting their highest in 19 years made things worse for investors hoping for some stability.