S&P 500, Nasdaq, Dow Drop as Chip Stocks Tumble — SkimNews
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- 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.
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