Dow Drops 100 Points as Chip Stocks Fall, Iran Tensions Flare
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- U.S. stock indexes dropped across the board, with the Dow falling 100 points and the S&P 500 and Nasdaq also declining as semiconductor stocks led the move lower.
- Trump reimposed a Strait of Hormuz blockade, reigniting U.S.-Iran tensions, while SK Hynix was specifically named as the chip stock leading the sector decline.
Why it matters: Semiconductor names absorbed the heaviest selling, with SK Hynix explicitly cited as the worst hit, while Trump's Strait of Hormuz blockade call reignited the geopolitical-risk trade that hit all three major indexes simultaneously — showing chip-sector sentiment remains tightly coupled to US-Iran flashpoints.
