The semiconductor sector faced renewed selling pressure on Tuesday, erasing the modest gains seen in Monday's session and dragging broader market indices lower.
Investors continued to reduce exposure to chip manufacturers, signaling that the recent rally was a fleeting reprieve rather than a trend reversal.
Wall Street chip manufacturers had already plunged 7% in the previous session, and the fresh wave of selling suggests that risk appetite remains fragile.
The decline marks a continuation of the severe repricing that has plagued the industry in recent days.
Wall Street chip manufacturers had already plunged 7% in the previous session, and the fresh wave of selling suggests that risk appetite remains fragile.
The broad-based weakness in the sector weighed heavily on major benchmarks, with the MSCI World index among those pressured by the tech-led downturn.
Market participants appear to be positioning defensively ahead of key US macroeconomic data releases.