US Stock Market Move | Chip sector plunges, Philadelphia Semiconductor Index drops nearly 5%

On Friday, the chip sector suffered a sharp decline, with the Philadelphia Semiconductor Index falling nearly 5%. As of the time of writing, Micron Technology, Inc. (MU.US) dropped nearly 9%, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) fell over 4.9%, Broadcom Inc. (AVGO.US) fell over 5%, NVIDIA Corporation (NVDA.US) fell over 5.4%, and Intel Corporation (INTC.US) fell over 6.8%.