Economy / Markets

Chip stocks lead a Wall Street retreat as Treasuries rally

The S&P 500 fell 93.74 points, or 1.2%, to 7,663.43 on Thursday, its worst session since July, while the Nasdaq Composite dropped 694 points, or 2.6%, to 26,008.86 and the Dow edged up 0.02% to 52,867.98. The Philadelphia Semiconductor Index sank 6.7%. Treasuries had their biggest rally in more than two years and the 10-year yield fell 17 basis points to 4.95%, back below 5% for the first time in a month, as money rotated into staples and utilities.

By News Desk · Edited by Editorial Desk · Friday, 23 October 2026

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