Tech Stocks Drop as on Trump’s Hormuz Threat
Tiger Newspress16:07
Tech stocks fell in premarket trading after US President Donald Trump ordered a blockade of the Strait of Hormuz, heightening tensions with Iran following the collapse of weekend peace talks.
Big tech stocks dropped. Broadcom and Nvidia fell 2%; AMD, Amazon, Meta, and Alphabet fell 1%.
Memory chip stocks dipped. Rambus, Seagate Technology, Micron Technology, and Western Digital fell 2%; Roundhill Memory ETF and Everpure fell 1%.
Optical communication stocks slid. Semtech fell 3%; Amphenol and Corning fell 2%; Coherent, Applied Optoelectronics, and Lumentum fell 1%.
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