Nvidia (NVDA) and Micron Technology (MU) led chip stocks lower on Tuesday, while the broader market averages traded mixed as investors await updates about the possible end of the U.S. government shutdown.
The tech focused Nasdaq Composite (COMP:IND) fell around 0.8%. At the same time, the benchmark S&P 500 (SP500) was also in the red. The blue-chip Dow (DJI) had advanced by about 0.5%.
AI chipmakers, Nvidia’s (NVDA) stock fell about 3%, while Advanced Micro Devices (AMD) declined around 2%. Broadcom (AVGO) dipped about 1%, but Qualcomm (QCOM) seemed to buck the trend and rose nearly 1%.
Shares of Micron and Marvell Technology (MRVL) slumped around 4% each, while Taiwan Semiconductor Manufacturing (TSM) and Lattice Semiconductor (LSCC) each fell nearly 2%. Intel (INTC) dipped about 1% and Texas Instruments (TXN) was also in the red. Meanwhile, GlobalFoundries (GFS) and Analog Devices (ADI) were largely flat but in the green.
Chip equipment makers: Lam Research (LRCX) declined about 4%, Applied Materials (AMAT) fell nearly 3%, KLA (KLAC) around 2%, and ASML (ASML) dipped about 1%.