Intel Shares Weigh on Nasdaq as Chip Sector Drops 1.15% Ahead of Fed
INTC•Technology sector fell with chip shares leading a 1.15% decline in the Nasdaq Composite on June 16 as investors rotated ahead of the Fed’s June 17 rate decision, dragging Intel lower alongside Nvidia’s 2% drop and declines at AMD and Broadcom. U.S. futures later edged up with Nasdaq 100 futures rising 0.21% overnight.
1. Sector Selloff Hits Intel
Technology stocks led losses on Tuesday, with chip shares dragging the Nasdaq Composite down 1.15%. Intel joined peers Nvidia, AMD and Broadcom in declines as investors shifted positions ahead of the Federal Reserve’s policy decision.
