The Philadelphia Semiconductor Index drops over 3%, with multiple constituent stocks declining

The Philadelphia Semiconductor Index fell by over 3%. Among its constituent stocks, Micron Technology dropped nearly 8%; Intel and AMD both fell by over 5%; KLA Corporation and Lam Research dropped by over 4%; Applied Materials declined nearly 4%; GlobalFoundries fell by over 3%; Texas Instruments, Microchip Technology, and ON Semiconductor dropped by over 2%; TSMC, Qualcomm, NVIDIA, and ASML fell by over 1%.