Chip stocks slump as Nasdaq lags; Brent near $114 on Iran tensions
Chip stocks sold off sharply after LAM Research flagged component supply limits, while oil climbed as tensions with Iran escalated, per Stocktwits.
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what happened
According to Stocktwits, chip makers fell sharply on Thursday. The Nasdaq Composite lost 2.6%, the S&P 500 dropped 1.21%, and the Dow Jones closed nearly flat. The move followed comments from LAM Research CEO Tim Archer, who said supply constraints for certain components will keep limiting chipmakers and equipment companies heading into 2027. The iShares Semiconductor ETF (SOXX) fell almost 7%, and the leveraged SOXL dropped more than 20%.
Tensions in the Middle East also rose. An IRGC spokesman said Iran's defense doctrine is shifting toward offensive action, and Trump said the U.S. was no longer negotiating with Tehran. Brent traded near $113.97 a barrel and WTI near $100.31.
Next week, markets will focus on earnings from the largest tech and financial companies, along with the Federal Reserve's policy decision.
why it matters
The chip selloff alongside higher oil shows investors are weighing AI-sector risks and geopolitics at the same time. That points to elevated volatility, with big-tech earnings and the Fed decision likely to set direction in the coming weeks. Gold and silver also fell on Thursday, which raises questions about their safe-haven role.
market impact
Chips and tech: pressure from supply-chain worries; oil: upward pressure from conflict risk
instruments
sources
- Nasdaq Futures Rise After Chip Selloff While S&P 500, Dow Track Mixed Open: SLV, GLD, SOXL, BE In Focus — Stocktwits, 23 October 2026 at 02:59 UTC
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