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المشهد العربي
Wall Street chip stocks drop
The stocks of semiconductor companies on Wall Street experienced collective declines after previously recovering, as the "Philadelphia Semiconductor – SOX" index dropped by 6% to reach 11,853 points. This followed a 20% increase since the end of July. The decline was driven by investors taking profits and mounting economic pressures resulting from rising oil prices and bond yields, coupled with concerns over persistent inflation and higher borrowing costs. These factors threaten the ongoing investment in artificial intelligence projects. Leading chip companies such as Micron Technology, Sandisk, Western Digital, Seagate Technology, and Marvell Technology saw their shares fall between 7.19% and 9.12%.
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