Intel and AMD Fall 4%, NVIDIA Unchanged as Chip Selloff Defies Bond Yield Relief

Intel and AMD Fall 4%, NVIDIA Unchanged as Chip Selloff Defies Bond Yield Relief

Even with the NASDAQ 100 up, chip stocks remain under pressure Wednesday morning and afternoon. Intel (NASDAQ:INTC | INTC Price Prediction) stock is down 4% to $93.12 in midday trading, and Advanced Micro Devices (NASDAQ:AMD) stock is falling 4% to $465. Broadcom (NASDAQ:AVGO) stock is dropping 5% to $361.73, while NVIDIA (NASDAQ:NVDA) stock is unchanged ... Intel and AMD Fall 4%, NVIDIA Unchanged as Chip Selloff Defies Bond Yield Relief

Why are Intel and AMD stocks falling on Wednesday?

Intel INTC and AMD shares extended their declines on Wednesday, even as a broader recovery across US markets helped major stock indexes regain ground lost in the previous sessions. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all gained between 0.5% and 1% as Treasury yields eased following the US Treasury Department's announcement of an increased buyback operation for longer-term government debt. Lower bond yields generally pr…