The S&P 500 tumbled as a semiconductor selloff, sparked by lackluster earnings from key chipmakers, triggered a flight from risk assets, highlighting vulnerability in the tech-heavy market.
The S&P 500 dropped as a semiconductor rout, triggered by disappointing earnings from major chip companies, spread across the market. Technology stocks led the decline as investors fled risk-sensitive sectors. The selloff reflected concerns that corporate earnings growth may be weakening.
A sharp selloff in semiconductor stocks, driven by weak earnings, dragged down the broader index as investors fled risk-sensitive sectors.
The index fell more than 1%, marking one of its worst sessions in weeks, with the technology sector leading losses.
U.S. stocks fell sharply on Wednesday as a rout in semiconductor shares, fueled by disappointing earnings, spread to the broader market. The S&P 500 dropped over 1%, with technology and chip-related stocks leading the decline. Investors grew concerned that the semiconductor weakness could signal a broader slowdown in corporate earnings and economic growth.
The decline was triggered by a sharp selloff in semiconductor stocks after disappointing earnings reports from major chipmakers, which spread fear across the broader equities landscape.
The S&P 500 fell more than 1%, making it one of the larger daily drops in recent months, though still within the range of typical corrections.