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Chip stocks fall as inflation data triggers pullback

Chip stocks sold off sharply after a hotter-than-expected consumer inflation print and a spike in oil linked to the Iran conflict prompted a broad risk-off move. The pullback hit names beyond Nvidia, with Qualcomm plunging into its worst session since 2020, Intel tumbling roughly 9%, and the iShares Semiconductor ETF retreating over 5%. Micron and Sandisk also saw sizable drops. The move trimmed gains in the AI-related rally that had extended beyond NVDA, signaling investor sensitivity to macro inflation and geopolitical drivers that could weigh on semiconductor demand and sentiment in the near term.

Category

NVIDIA

Sentiment

Bearish

Event

Price movement

Reading time

1 min