US Stocks Slide as Chipmakers Sell Off and Mideast Tensions Drive Oil Higher
CNBC—U.S. stock index futures declined as a sharp selloff in chipmakers weighed on tech-heavy indexes and renewed tensions in the Middle East sent oil prices climbing. SK Hynix sank 8% in the session, dragging down other semiconductor names after the South Korean memory maker's Nasdaq debut turned volatile. Higher oil prices stemming from renewed regional conflict threaten to add inflationary pressure to an already fragile equity market environment.