Chip Stocks Lead Broad Market Selloff as Oil Tops $105 and Treasury Yields Climb to Three-Year High

U.S. stocks fell broadly on Thursday, September 10, with the Nasdaq 100 dropping 1.28% to a one-week low, the S&P 500 sliding 0.46%, and the Dow Jones Industrial Average dipping 0.04%, as a renewed selloff in semiconductor and AI-infrastructure stocks combined with surging oil prices and rising bond yields to rattle investors. The weakness was driven by a fresh round of selling in chip-related names, which had already been under pressure since a record-breaking plunge in SK Hynix shares earlier in the summer that rippled across global markets.

Sandisk, the best-performing S&P 500 component of 2026 despite being down roughly 35% from its June highs, fell 3.8% by mid-morning, erasing gains from a Citigroup endorsement the day prior. Intel and SK Hynix ADRs also declined, as did AI-infrastructure plays CoreWeave and Vertiv, and printed-circuit-board maker TTM Technologies. The broader chip selloff reflected ongoing investor anxiety about whether AI-driven demand can sustain elevated valuations after the sector's powerful first-half run.

Compounding pressure on equities, oil prices surged past $105 per barrel following Iran's targeting of U.S. Navy warships in the latest Middle East escalation, lifting Treasury yields to a three-year high. The 10-year yield rose further after the Treasury Department announced it would purchase up to $6 billion in longer-term debt, and President Trump indicated oil prices may not ease soon. TotalEnergies was among the oil-sector names in focus as crude climbed.

Among individual movers, Redwood Trust plunged 22%, while Axogen tumbled and Jaguar Health slid, each on company-specific news. Digital Brands surged on unspecified positive catalysts. Keel Infrastructure and THG also saw sharp declines on the day.