Qualcomm Drops 13% as Chip Stocks Retreat from AI-Driven Rally
Chip stocks declined on Tuesday amid investor caution following higher-than-expected inflation data and rising oil prices due to the Iran conflict. Qualcomm fell sharply by 13%, marking its worst session since 2020, while Intel and On Semiconductor also dropped significantly.
Tickers: $INTC $MU $NVDA $ON $QCOM $SNDK $SWKS
Topics: AI inflation semiconductors stock market