Intel, AMD, and Applied Materials Drop 4% as SK Hynix Rout and Oil Spike Hit Chip Stocks

Intel, AMD, and Applied Materials shares dropped 4% as the SOX chip index faced a unanimous selloff. This decline was triggered by SK Hynix experiencing its worst trading day in 18 years within South Korea. Micron and other chip stocks were similarly impacted by this imported volatility. The market downturn for these semiconductor companies was further exacerbated by a spike in oil prices, contributing to the overall negative performance of the chip sector.