[New York Stock Market] All three major indexes fall as fear gauge tops 20

[Financial News]  

The NYSE fell across the board on the 29th local time. As selling in semiconductors continued, the Nasdaq fell for a sixth straight trading day, while the Dow Jones Industrial Average (DJIA) and the Standard & Poor's (S&P) 500 declined for the first time in three sessions.
Although the Federal Reserve System (Fed) kept its benchmark rate unchanged, investor sentiment was hit hard after three Federal Open Market Committee (FOMC) members voted against the decision, arguing for a 0.25 percentage point rate hike.
As semiconductor selling pressure continued, Micron widened its losses sharply late in the session and plunged nearly 10%. It also fell below the $800 mark.

The Dow, which had remained strong even amid recent weakness in the Nasdaq, posted the steepest decline of the day. It tumbled 1,152.82 points, or 2.19%, from the previous session to 51,594.50.
The S&P 500 fell 112.56 points, or 1.52%, to 7,316.15, while the Nasdaq dropped 433.97 points, or 1.74%, to 24,442.94.
The Cboe Volatility Index (VIX), Wall Street's fear gauge, broke through the psychologically important 20 level. The VIX surged 2.05 points, or 11.35%, to 20.26.

Semiconductor stocks remained under pressure.
Micron plunged $81.53, or 9.94%, to $739.00. That was more than 39% below its all-time closing high of $1,213.56 set on the 25th of last month.
Chip giant NVIDIA also fell $7.00, or 3.55%, to $190.01, while Advanced Micro Devices, Inc. (AMD) dropped $25.06, or 5.51%, to $429.56.
SK hynix's American Depositary Receipt (ADR) closed down $3.38, or 2.60%, at $126.79.
Exchange-traded funds (ETFs) also struggled.
The Roundhill Memory ETF (DRAM) plunged $2.92, or 6.11%, to $44.85, while the iShares Semiconductor ETF (SOXX) fell $26.46, or 5.38%, to $465.00.
The Philadelphia Semiconductor Index (SOX) closed down 588.19 points, or 5.33%, at 10,447.49.

Big tech stocks also had a weak session.
Apple fell $1.89, or 0.56%, to $338.19, while Microsoft (MS) slipped $2.81, or 0.71%, to $390.54.
Tesla ended the day down $9.12, or 2.97%, at $298.32.
SpaceX plunged $3.86, or 3.32%, to $112.55, setting a new all-time low.
By contrast, Alphabet closed up $3.00, or 0.90%, at $336.71.

[email protected] Song Kyung-jae Reporter