Escalation of US-Iran tensions suppresses risk appetite, chip stocks plummet, Nasdaq drops over 1.5%

格隆汇 July 14｜On Monday Eastern Time, US stocks broadly declined, dragged down by technology stocks. Earlier, President Trump announced the reinstatement of a blockade on Iranian ports, signaling a further escalation in US-Iran tensions, which drove international oil prices sharply higher and dampened market risk appetite. At the close, the Dow Jones fell 138.37 points, or 0.26%, to 52,498.64 points; the Nasdaq dropped 408.43 points, or 1.55%, to 25,873.18 points; the S&P 500 index shed 60.05 points, or 0.79%, to 7,515.34 points. Among the 11 sectors of the S&P 500 index, information technology/technology fell 2.07%, telecommunications declined 0.98%, while energy rose 3.16%. Shares of South Korean chip manufacturer SK Hynix, listed in the US, dropped 9.3% on Monday after surging over 12% on its debut at an exchange last Friday. Against the backdrop of SK Hynix's sharp fall and a cooling in AI trading, the Philadelphia Semiconductor Index significantly lagged behind the broader market, with SanDisk, Marvell Technology, and Intel falling between 6.1% and 12.6%.