Intel Sinks 6% as Profit Taking Hits a Parabolic Run; NVIDIA and AMD Retreat 3%
Intel shares fell 6% on Thursday, giving back part of a 188% year-to-date gain, as profit-taking hit the semiconductor sector without a fresh company-specific catalyst. NVIDIA and AMD also retreated 3% each. The broader iShares Semiconductor ETF (SOXX) dropped 3%, nearly triple the Invesco QQQ Trust's 1% decline. The pullback comes as the benchmark 10-year Treasury yield rose to 4.84%, a near three-year high, which compressed valuations for richly priced growth names like chipmakers.
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