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U.S. semiconductor shares fell as China’s CXMT announced progress on a more efficient memory-cell design, following a 5% drop in South Korea’s KOSPI. Applied Materials fell 6.5% and Micron dropped 4.9%; the S&P 500 was down 0.2% and the Nasdaq 100 fell 0.5% by midday.
* Shares in European chipmakers fall in early trade as selloff in AI-exposed stocks spreads, dragging the wider STOXX tech index 1.7% lower * STMicroelectronics, Soitec, Infineon, and semiconductor testing company Technoprobe are all down around 5% * Siltronic, Aixtron, ASM International, X-FAB slide between around 3%
South Korea’s benchmark KOSPI falls more than 4% to around 6,560, as a global bond selloff lifts US 30-year yields and pressures technology and chip-related stocks.