U.S. stocks fell Tuesday as the S&P 500 dropped 0.9%, the Nasdaq lost 1.8%, and the Dow slipped 84 points. Chip stocks dragged the market lower after Monday’s rebound faded, with the iShares Semiconductor ETF down nearly 6%. Micron and Broadcom fell again as investors stayed worried that the AI chip rally had moved too far, too fast. Oil prices dropped below $90 after fresh comments on the Strait of Hormuz, but weakness in tech still outweighed that relief.
