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semiconductor / news / / Devdiscourse

The S&P 500 and Nasdaq hit one-month lows on Tuesday as technology stocks, particularly chipmakers, took a significant hit.

The S&P 500 and Nasdaq reached their lowest levels in a month on Tuesday.

KEY POINTS
The S&P 500 and Nasdaq hit one-month lows on Tuesday as technology stocks, particularly chipmakers, took a significant hit. This comes as investors grew cautious with forthcoming inflation data and the looming SpaceX IPO. Notable tech stocks like Nvidia, Broadcom, and Micron Technology saw a drop between 3.5% and 7%. The Philadelphia SE Semiconductor index also suffered, falling nearly 7%. Concerns about high valuations in the tech sector, led by Broadcom's disappointing forecast, led to sharp sell-offs. As investors await key consumer price data, oil prices fell over 4% after tensions between Iran and Israel eased. The market remains on edge, with SpaceX's potential $75 billion IPO on Friday, fueling concerns of overexuberance among tech stocks. (With inputs from agencies.)
COMPANIES
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