Why are the S&P 500, Nasdaq, and the Dow crashing today?
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- 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.
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