SK Hynix, AMD, Intel and NVIDIA shares fall sharply Thursday
Big names in the chip world, SK Hynix, AMD, Intel, and NVIDIA, watched their stock prices drop sharply on Thursday.
SK Hynix fell 6% after climbing to a fresh peak of $191, marking a new milestone since its ADR debut in July;
Micron slid 4.2%; and AMD lost 3%, was on track to snap its three-day winning streak.
Intel dropped the most at 6.5%, while NVIDIA saw its third straight decline.
Profit taking, oil and inflation fears
The tumble mostly came from investors locking in profits after recent gains, but there's more to it: rising tensions in the Middle East are making people nervous about energy supplies, which is putting extra pressure on markets.
On top of that, fresh US inflation data showed prices climbing faster than expected, so now everyone's bracing for a possible Fed rate hike soon.
Brent crude oil also shot past $105 per barrel, adding to the uncertainty for anyone watching their investments.