Chip stocks fall as inflation data triggers pullback

Chip stocks sold off sharply after a hotter-than-expected consumer inflation print and a spike in oil linked to the Iran conflict prompted a broad risk-off move. The pullback hit names beyond Nvidia, with Qualcomm plunging into its worst session since 2020, Intel tumbling roughly 9%, and the iShares Semiconductor ETF retreating over 5%. Micron and Sandisk also saw sizable drops. The move trimmed gains in the AI-related rally that had extended beyond NVDA, signaling investor sensitivity to macro inflation and geopolitical drivers that could weigh on semiconductor demand and sentiment in the near term.