US Stock Market Move | Chip stocks broadly decline; Qualcomm (QCOM.US) falls nearly 7%.

On Monday, chip stocks broadly declined. Qualcomm (QCOM.US) fell nearly 7%, SanDisk (SNDK.US) dropped over 5%, SK Hynix (SKHY.US) fell 5%, and Intel Corporation (INTC.US) and Western Digital Corporation (WDC.US) dropped over 4%. Seagate Technology Holdings PLC (STX.US), Advanced Micro Devices, Inc. (AMD.US), and Micron Technology, Inc. (MU.US) fell over 3%. On the news front, OpenAI suddenly suspended the training and testing of its most advanced AI models, raising market concerns that a slowdown in AI development could drag on chip demand; meanwhile, surging oil prices and rising US Treasury yields further amplified the selling pressure on tech stocks.