Update: US Equity Indexes Drop as Mega-Cap Chipmakers Slump, Treasury Revokes Iran Oil General License
() -- (Updates with index/price moves, macroeconomic, and company/political news.) US equity indexes slumped as chipmakers led the technology sector lower and the Treasury Department revoked a June 21 license authorizing Iran to sell its crude oil in international markets. The Nasdaq Composite dropped 1.2% to 25,818.69