Technology stocks bore the brunt of a broad market sell-off on Thursday, with the Nasdaq Composite falling 1.6% as semiconductor shares led the retreat and investor nerves over Big Tech spending showed no sign of easing.
The iShares Semiconductor ETF tumbled more than 4%, with Lam Research, the chip equipment maker, dropping around 8.5% after its latest results disappointed.
Meta fell nearly 6% as investors focused on its surging capital expenditure rather than a revenue beat, while Tesla ended roughly flat after a volatile session following its own earnings release.
Oil added to the pressure, with Brent crude pushing above $111 a barrel on reports that the US and Israel are planning fresh strikes on Iran after next month's midterm elections.
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