US stocks fall as semiconductor index sinks 11%
In short
US stocks fell hard on Thursday after investors sold AI and chip shares. The Nasdaq dropped 5%, the S&P 500 fell 3.3%, the Dow lost more than 1,200 points, and the Philadelphia Semiconductor Index sank 11%.
The move matters because tech and chip stocks helped drive the market lower, while oil prices rose again as traders watched talks over a possible US-Iran deal.
What the reporting says
US stocks tumbled on Thursday as a sharp sell-off in AI and semiconductor shares erased the previous session’s post-election gains. The Nasdaq Composite fell 5%, the S&P 500 dropped 3.3% and the Dow lost more than 1,200 points, while the Philadelphia Semiconductor Index sank 11%. Oil prices also rebounded amid uncertainty over a possible US-Iran deal.
Why it matters
Wall Street reversed the prior session’s post-election gains on Thursday, led by a steep drop in AI and semiconductor stocks. The Nasdaq Composite, S&P 500 and Dow all fell sharply, and the Philadelphia Semiconductor Index lost 11%. Nvidia and AMD were named among the tech leaders in the sell-off. Oil prices rebounded as traders weighed uncertainty around a possible US-Iran deal.