S&P 500, Nasdaq, Dow Drop as Chip Stocks Tumble
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- The S&P 500, Nasdaq, and Dow all dropped as chip stocks tumbled, pulling major indices lower on the session and dragging down tech names like Alphabet.
- TSMC hit a record even as Wall Street ended lower, with chip weakness offsetting otherwise solid corporate earnings reports.
Why it matters: Even TSMC setting a record wasn't enough to counter the chip slump that dragged all three major US indices lower on the same session, with Alphabet separately sinking to deepen the broader tech selloff.
