US Stock Market Move | Chip stocks fell across the board, with the Philadelphia Semiconductor Index dropping more than 2.8%.

On Wednesday, chip stocks fell across the board. As of press time, the Philadelphia Semiconductor Index dropped over 2.8%, Intel Corporation (INTC.US) fell over 7%, Micron Technology, Inc. (MU.US) dropped over 6%, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) fell over 3%, NVIDIA Corporation (NVDA.US) dropped over 2.5%, and Arm Holdings (ARM.US) fell over 4.8%.