High-Flying Chip Stocks Slide as Iran War Dents Risk Appetite

Chip stocks tumbled across the US and Asia as investors pulled back from the market’s biggest winners amid Middle East tensions.

Memory chipmaker Micron Technology Inc. closed 9.9% lower Monday and slumped even further in post-market trading. Among peers, Samsung Electronics Co. slumped nearly 5% and SK Hynix Inc. dropped as much as 7.7% in early Korea Exchange trading Tuesday.