Why are big chip stocks under pressure? SK Hynix, AMD, Intel, Nvidia fall up to 6.5%; is the AI rally losing steam?

SK Hynix, Micron Technology, Intel and Advanced Micro Devices (AMD) were among the chip stocks trading with losses of up to 6.5% in Thursday’s trade, September 10, as investors appeared to book profits in these counters following their recent run-up amid escalating tensions in West Asia.

Following a three-day winning streak, SK Hynix shares reversed their gains, dropping 6% to hit the day’s low of $187.