Nasdaq ends sharply higher; chip surge offsets Iran worries

The Nasdaq closed sharply higher on Thursday, as a rally in chip stocks, driven by Micron Technology, overshadowed concerns regarding renewed attacks between the U.S. and Iran. Investors feared that these escalations might prolong the Middle East conflict and potentially fuel inflation. However, the strong performance of the semiconductor sector provided enough momentum to offset these geopolitical worries, resulting in a significant overall gain for the tech-heavy index by the end of the session.