The semiconductor sector suffered a unanimous selloff to start 2024, the day after posting the best yearly gain in 20 years. The VanEck Semiconductor ETF
SMH,
slumped 3.4% in Tuesday trading, with all 25 equity components trading lower. The ETF had run up 72.3% in 2023, the best year for the ETF since it soared a record 87.3% in 2003. Tuesday’s biggest decliner was Advanced Micro Devices Inc.
AMD,
shares, which shed about 6%. Intel’s stock
INTC,
took a 4.9% hit, after rocketing 90.1% in 2023, the stock’s best year since it shot up 105.8% in 2003. Meanwhile, the U.S.-listed shares of ASML Holding N.V.
ASML,
slid 5.3% to be the third-worst performer in the ETF, after the Netherlands-based chip-equipment maker was reportedly blocked from exporting some equipment to China, amid security concerns expressed by the Netherlands, Japan and the U.S. The best performer in the chip ETF, as well as the S&P 500
SPX,
in 2023 was Nvidia Corp.’s stock
NVDA,
which rocketed 238.9% to post the best year since the record 308.4% rally in 2001. The stock lost 2.8% on Tuesday.
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