[U.S. stocks] Tech shares fall as oil rises and chip stocks weaken; SOXL plunges 8.2%

[Financial News]  

The New York stock market ended mixed on the 12th (local time).
The Dow Jones Industrial Average (DJIA) rose 0.4%, while the tech-heavy S&P 500 and Nasdaq both fell.
Weakness in semiconductor stocks in South Korea, whose market closed earlier that day, cast a pall over semiconductor stocks in New York as well.
SOXL, a leveraged exchange-traded fund (ETF) that tracks three times the daily moves of the 30 semiconductor stocks with the largest market capitalizations, fell by more than 8%.

Tech stocks struggled amid concerns that rising oil prices could lead to interest-rate hikes and weakness in semiconductor stocks.
The S&P 500 ended slightly lower, down 4.32 points (0.06%) from the previous session to 7,807.24, while the Nasdaq slid 120.27 points (0.44%) to 27,245.90.
The Dow, by contrast, climbed 195.60 points (0.38%) to 51,850.55.
The Nasdaq-100, made up of 100 large-cap tech stocks, fell 218.45 points (0.71%) to 30,664.70. TQQQ, a leveraged ETF that tracks three times the index's daily moves, ended the session down $1.67 (2.05%) at $79.61.

Semiconductor stocks triggered the day's decline in tech shares.
Sector leader Nvidia fell $2.96 (1.29%) to $226.32, while Micron plunged $39.96 (3.88%) to close at $989.04, slipping back below the $1,000 mark.
Intel fell $3.35 (3.20%) to $101.35, while SK Hynix's American depositary receipts (ADRs) plunged $6.80 (4.02%) to $162.23.
The Philadelphia Semiconductor Index (SOX) tumbled 335.63 points (2.67%) to 12,236.79.
SOXL, the Direxion Daily Semiconductor Bull 3X Shares leveraged semiconductor ETF that tracks 30 semiconductor stocks, plunged $11.40 (8.16%) to $128.36.

Quantum-computing stocks also came under pressure.
Sector leader IonQ announced it had acquired cybersecurity company Elisity for $1.3 billion, and its shares plunged $3.62 (9.07%) to $36.27.
Rigetti plunged $0.78 (5.56%) to $13.25, while D-Wave Quantum slid $0.83 (5.70%) to $13.74.

Big Tech stocks moved in different directions.
Alphabet Inc. rose $1.06 (0.30%) to $352.72, while Apple Inc. gained $4.33 (1.29%) to close at $340.97.
Microsoft Corporation (MS) climbed $6.08 (1.14%) to $541.15, while Meta Platforms, which unveiled its new artificial intelligence (AI) model, Muse Wonder, that day, surged $24.29 (3.38%) to $742.96.
SpaceX also rose $0.85 (0.52%) to close at $163.42.
Tesla, by contrast, fell $4.67 (1.22%) to $378.03, while Amazon closed down $2.90 (1.11%) at $259.53.
Palantir ended slightly lower, down $0.05 (0.02%) at $209.00.

[email protected] Song Kyung-jae Reporter