Semiconductor Selloff Sends Wall Street Tumbling as Bitcoin Retreats on Rate Concerns

U.S. markets sold off as a semiconductor rout dragged the Nasdaq down 1.5%, the S&P 500 down 0.8%, and the Dow off 0.3%. Chip weakness followed a sharp 9% drop in South Korea’s KOSPI and a more than 9% slide in SK Hynix’s U.S. ADR debut, reinforcing global concerns around the semiconductor supply chain. The article also says Bitcoin fell over 2% to around $62,380 as markets sharply increased the probability of a July Fed rate hike to 50%, up from about 10% days earlier. Rising two-year Treasury yields, higher oil prices near $80, and U.S.-Iran tensions are intensifying inflation fears ahead of Tuesday’s CPI print. Overall, the piece frames the market move as a risk-off reaction to tighter policy expectations and sector-specific tech weakness.