Chip Stock Rout Deepens as Philadelphia Semiconductor Index Enters Bear Market; US-Iran Conflict Propels Brent Crude Past $88
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A rout in chip stocks has deepened, with the Philadelphia Semiconductor Index entering a bear market. The sell-off has led to weekly losses for major US stock indexes, including the Dow, S&P 500, and Nasdaq, as investors rotate away from tech stocks. The decline in chip stocks has affected various companies, including some that have been impacted by other factors, such as patent verdicts.
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