Chip Stocks Nvidia and Micron Are Tumbling Again
- S&P 500 Semiconductor Index down for fifth time in six days
- Another rotation into banks keeps Dow and S&P 500 rallying
What Tax Reform Means for Big Tech
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A frantic rotation in the equity market once again sent chipmakers reeling, handing bulls their fifth drop in six days as investors reallocated into stocks seen as more likely to benefit from a tax cut.
Losses were steepest in Nvidia Corp., the processor maker that was up 100 percent for the year as recently as Nov. 24, and Advanced Micro Devices Inc., one of last year’s best-performing technology companies. Semiconductor stocks have suffered amid a broader selloff in the technology industry, which at times in 2017 has been up twice as much as any other group.