‘Nasty’ chip stock rout plunges Nasdaq into correction territory

A global rout in chip stocks plunged the Nasdaq into correction territory on Tuesday just hours after South Korea’s bourse was forced to halt trading, in a sharp change of fortunes for what has been one of the year’s top performing exchanges. New York’s tech-heavy index fell nearly two per cent at the US market…

Just weeks after driving major indexes such as the S&P 500 and Nasdaq Composite to record highs, semiconductor stocks are taking a beating once again.

It’s a chip panic that “appears to be indiscriminate,” analysts say.

Chip stocks around the world sold off sharply, the latest chapter in the months long jitters surrounding artificial intelligence, memory and chip stocks.

HONG KONG: South Korea's Kospi collapsed 10 per cent as tech took a battering on another black day for Asian stock markets, with a report of a breakthrough in China's chip industry compounding worries about the longevity of the AI boom.The losses extended a sell-off across the industry globally following an eye-waterin