Intel and Chipmakers Slide as Geopolitical Tensions Drive Oil and Yields Higher

Intel shares dropped 4.5% on Monday as broader semiconductor stocks retreated under pressure from rising crude oil prices and surging Treasury yields. The selloff was triggered by escalating geopolitical tensions between the United States and Iran following the rejection of a proposal to reopen the Strait of Hormuz. Intel, which earlier touched a 6% decline after an initial 4% morning dip to $117.98, fell alongside sector peers including AMD, Qualcomm, and Arm. Even NVIDIA's record $150 billion share repurchase authorization failed to buoy the wider market as the Philadelphia Semiconductor Index dropped 2.6%.