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Chip Rally Collapses, Dragging Down Nasdaq. Dow, S&P 500 Also Dropping.
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The Nasdaq tumbled on Tuesday to continue a turbulent time for chip stocks. The tech-heavy index fell 1.3%. The S&P 500 dropped 0.5% and the Dow fell 70 points, or 0.1% amid a reversal of yesterday’s chip-stocks rally.