US chip stocks tumble after strongest year since 2009


Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo

(Reuters) - U.S. chip stocks added to a string of losses on Wednesday, with Wall Street's main semiconductor benchmark tumbling from record highs following its strongest year since 2009, when the sector bounced back after the financial crisis.

Drops of over 2% in Advanced Micro Devices, Qualcomm and Broadcom weighed most on the PHLX semiconductor index, which was down 2.1%.

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