Chip sector suffers unanimous selloff, led by stocks of AMD, Intel and ASML

 The semiconductor sector was suffering a unanimous selloff to start 2024, the day after posting the best yearly gain in 20 years. The VanEck Semiconductor ETF (SMH) slumped 3.3% in afternoon trading, with all 25 equity components trading lower. The ETF had run up 72.3% in 2023, the best year for the ETF since it soared a record 87.3% in 2003. Tuesday's biggest decliner was Advanced Micro Devices Inc. (AMD) shares, which shed 6.1%. Intel's stock (INTC) took a 4.8% hit, after rocketing 90.1% in 2023, the stock's best year since it hiked up 105.8% in 2003. Meanwhile, the U.S.-listed shares of ASML Holding N.V. (ASML) slid 4.8% to be the third-worst performer in the ETF, after the Netherlands-based chip-equipment maker was reportedly blocked from exporting some equipment to China, amid security concerns expressed by the Netherlands, Japan and the U.S. The best performer in the chip ETF, as well as the S&P 500 , in 2023 was Nvidia Corp.'s stock (NVDA), which rocketed 238.9% to post the best year since the record 308.4% rally in 2001. The stock lost 2.8% in afternoon trading Tuesday.

https://www.morningstar.com/news/marketwatch/20240102167/chip-sector-suffers-unanimous-selloff-led-by-stocks-of-amd-intel-and-asml