US Stock Market Movement | Chip Stocks Plunge, Qualcomm (QCOM.US) Falls Over 4%
On Tuesday, chip stocks generally fell, with Qualcomm (QCOM.US) dropping over 4%, while Intel (INTC.US) and AMD (AMD.US) both declined more than 3%.
Zhitong Finance APP reports that on Tuesday, chip stocks generally fell. Qualcomm (QCOM.US) dropped more than 4%; Intel (INTC.US) and Advanced Micro Devices (AMD.US) fell more than 3%; Micron Technology (MU.US), NVIDIA (NVDA.US), Seagate Technology (STX.US), SK Hynix (SKHY.US), and SanDisk (SNDK.US) fell more than 2%; Western Digital (WDC.US) declined by 2%; Broadcom (AVGO.US) was down nearly 2%.
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EIA expects Brent crude spot prices to remain at $100 per barrel for the rest of the year and raises the average price forecasts for this year and next.
The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.
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