Semiconductor Shares Plunge 3.8% on New York Stock Exchange

On the 13th (local time), semiconductor stocks fell sharply on the New York Stock Exchange. The plunge in South Korea's SK Hynex stock by 15%, the surge in international oil prices due to Middle East instability, and the sharp rise in U.S. Treasury yields affected the entire semiconductor sector. The price of WTI for August delivery soared 8.82% to $77.71 per barrel, and the 10-year U.S. Treasury yield rose to 4.614% from 4.569% in the previous trading day.

As of just before the U.S. market close, the VANECK SEMICONDUCTOR ETF (SMH) was down 3.80% to 587.80. On the New York Stock Exchange, SK Hynix ADR traded at $152.51, down 9.23%. The stock price of AI chip giant Nvidia fell 3.30% to $204.00. AMD stock fell 3.93% to $535.98. Marvell Technology Group (MRVL) stock plunged 7.55% to $218.01, while Sandisk stock fell 12.67% to $1673.25. Seagate stock fell 5.66% to $858.79, and Intel stock plunged 5.97% to $103.28. ON Semiconductor (ON) stock plunged 5.55% to $90.63. KLA CORP stock fell 3.39% to $223.68. Applied Materials (AMAT) stock fell 4.08% to $577.89, and Lam Research stock traded down 5.81% to $329.97.

Due to the selling of semiconductor stocks, the tech-heavy Nasdaq index finished trading at 25,873.18, down 1.55%. S&P TECHNOLOGY (TECH) moved to 6,656.70, down 1.97%.