Chip sector suffers unanimous selloff, led by stocks of AMD, Intel and ASML
The semiconductor sector was suffering a unanimous selloff to start 2024, the day after posting the best yearly gain in 20 years. The VanEck Semiconductor ETF SMH, -3.29% slumped 3.3% in afternoon trading, with all 25 equity components trading lower. The ETF had run up 72.3% in 2023, the best year for the ETF since it soared a record 87.3% in 2003. Tuesday’s biggest decliner was Advanced Micro Devices Inc. AMD, -6.06% shares, which shed 6.1%. Intel’s stock INTC, -4.86% took a 4.8% hit, after rocketing 90.1 ...