Major U.S. stock indexes fell sharply on Thursday, and sellers did not show much discrimination.
Chip stocks plummeted. The Philadelphia Semiconductor Index fell as much as 6.2% on Thursday, the biggest since mid-June. Thursday’s decline caused the total market value of the Philadelphia Semiconductor Index to shrink by approximately $100 billion.
Large chip manufacturers have suffered their worst loss in months. Nvidia’s stock price fell 10% at one time, the biggest intraday drop since March 18. Qualcomm and Broadcom both fell more than 5%, while Intel fell more than 3%.