New York stocks fall on semiconductor weakness and oil price surge; Samsung Electronics down about 7%
U.S. stocks in New York opened mixed under pressure from semiconductor shares on 7 and a sharp rise in international oil prices, then closed broadly lower. The Dow fell 130.76 points to finish at 52,925.15, while Samsung Electronics plunged about 7%, sending the KOSPI down nearly 5%.
U.S. stocks in New York opened mixed under pressure from semiconductor shares on 7 and a sharp rise in international oil prices, but ultimately closed broadly lower.
The Dow Jones30 Industrial Average hit a record high during the session before closing 130.76 points below the previous session at 52,925.15.
The Standard & Poor’s 500 Index closed at 33.58 after falling 7,503.85 points.
The tech-heavy Nasdaq index302.47points lower25,818.69closed at. It opened mixed in early trading, and at the time of the mixed opening, the Dow stood at53,067.11.
Semiconductor stocks underwent broad-based corrections. Intel fell9.66%, while Micron Technology declined4.71%.
KLA dropped7.22%, and Marvell Technology fell7.45%.
AMD slipped6.51%, while the VanEck Semiconductor ETF fell more than5%.
The impact was also felt in the Korean market. Samsung Electronics plunged about7%, while the KOSPI index fell nearly5%.
Meanwhile, healthcare, financials, and big tech rose slightly, with Eli Lilly, JPMorgan Chase, and Microsoft among those that gained.
Military tensions in the Strait of Hormuz sent international oil prices 5% higher, weighing on stock markets.
Sources: 뉴시스 경제
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