US chip stocks dip, Sandisk and Qualcomm down over 2%, Google loses $265B in market cap as tech giants slide
Major US tech and chip stocks dropped sharply, with Tesla falling over 8% and Google losing more than $265 billion in market value, signaling broad risk-off sentiment.
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US chip stocks declined on Tuesday, with Sandisk and Qualcomm each falling over 2%, according to MSX.COM data. The broader tech sector also suffered, as the so-called 'Magnificent Seven' stocks all traded lower. Tesla led the losses, dropping more than 8%, while Google parent Alphabet plunged over 6%, erasing approximately $265 billion in market capitalization. Amazon fell over 3%, Meta declined more than 2%, and Nvidia slipped 1.1%. The sell-off reflects a broad risk-off sentiment among investors, driven by concerns over valuation and macroeconomic headwinds.
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