Wall Street mixed as chip stocks extend losses and oil dips

Dow Jones··Read original
3▲0 ▼5Impact / 5
Summary · why it matters

Wall Street was mixed in light trading early Thursday as chip stocks fell further and oil prices dipped near their levels before the Iran war began. Futures for the S&P 500 were unchanged, while Dow Jones Industrial futures inched up 0.2% and Nasdaq futures were off 0.4%. Most chipmakers were down modestly premarket after a big sell-off a day earlier that saw Micron lose more than 10%, with Micron falling another 2.3% overnight. In Asia, South Korea's benchmark Kospi index sank 7.9% to 7,648.09, with memory chipmaker SK Hynix losing 14.6% and Samsung Electronics tumbling 9.1%. Oil prices fell after negotiators from the U.S. and Iran met separately with mediators from Qatar and Pakistan on Wednesday, as traders eyed developments in talks on achieving a permanent end to the war in Iran, with Brent crude falling $1 to $70.57 per barrel and benchmark U.S. crude falling $1.08 to $67.50 per barrel.

Impact on assets 5

Semiconductors▼ · 2 stocks
SK Hynix Inc
000660
▼ NegativeDemandrelevance

SK Hynix lost 14.6% in Asia, reflecting broad sell-off in memory chipmakers due to demand concerns.

Micron Technology Inc
MU
▼ NegativeDemandrelevance

Chip stocks extend losses; Micron fell >10% and another 2.3% premarket, indicating weak demand for memory chips.

Artificial Intelligence▼ · 1 stocks
Others▼ · 2 stocks
⛏Brent Crude Oil Futures
BRENT
▼ NegativeGeopoliticsrelevance

Brent crude fell $1 to $70.57 on hopes of permanent end to Iran war, easing geopolitical premium.

⛏Crude Oil WTI Futures
WTI
▼ NegativeGeopoliticsrelevance

Oil prices fell as U.S.-Iran peace talks progress, reducing supply disruption risk.

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