US Closing Bell | Semiconductors drag Nasdaq lower as yields climb

US Closing Bell04:03

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September 15, U.S. stocks closed lower as rising Treasury yields pressured growth shares. The Dow Jones Industrial Average fell 0.29%, the S&P 500 slipped 0.48%, and the Nasdaq Composite lost 0.56%, halting its recent rebound. Renewed worries that higher-for-longer rates could crimp technology valuations overshadowed an otherwise quiet macro calendar.

Semiconductor names led the slide after a weak memory-chip outlook rippled through the sector. Direxion Daily Semiconductors Bull 3x Shares (SOXL) fell 16.98%, Silicon Motion Technology (SIMO) fell 16.76%, Intel (INTC) fell 5.59%, Micron Technology (MU) fell 5.25%, Broadcom (AVGO) fell 4.77%, Advanced Micro Devices (AMD) fell 4.40%, Taiwan Semiconductor (TSM) fell 3.52%, and NVIDIA (NVDA) fell 3.36%, collectively knocking more than 60 points off the Nasdaq.

Outside chips, a handful of niche names posted outsized gains. Future FinTech (FTFT) jumped 179.17%, Hongli Group (HLP) climbed 24.79%, Direxion Daily Semiconductors Bear 3x Shares (SOXS) advanced 17.20%, CrowdStrike (CRWD) rallied 13.85%, Universe Pharmaceuticals (UPC) added 10.32%, TROOPS (TROO) rose 9.09%, Lufax (LU) gained 7.44%, and Meta Platforms (META) edged up 2.71% as investors rotated into perceived defensive growth and short-hedge plays.

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