US stocks closed with the Philadelphia Semiconductor Index down 7.2%, marking its largest drop since June

Odaily reports, according to MSX.COM data, US stocks closed with chip stocks taking a heavy hit. The Philadelphia Semiconductor Index fell 7.2%, marking its largest drop since June. Intel plunged 28.58%, its biggest single-day decline in over four decades. SanDisk dropped over 13%, Qualcomm fell over 11%, AMD declined over 10%, ARM dropped over 9%, Seagate Technology, Western Digital, and Applied Materials fell over 7%, ASML and Lam Research declined over 6%, and TSMC and Broadcom dropped over 5%.