Chip Stocks Plunge Over Higher Inflation

Chip stocks dropped sharply on Tuesday after higher‑than‑expected consumer inflation data and rising oil prices due to the Iran war.
Qualcomm fell 13.6%, its worst session since 2020, while Intel slid 9.2% and Micron declined 7.6%.
On Semiconductor dropped 6.7%, Skyworks 6.2%, Broadcom 3.8%, and the iShares Semiconductor ETF (SOXX) fell 5.3%.
Sandisk tumbled 9% despite a 500% year‑to‑date rally, highlighting heightened risk aversion in the sector.