Nvidia, Amazon, Google Lead Tech Selloff After Israel Strikes Iran

June 13 - Tech stocks tracked broader markets lower as Middle East tensions rose. The iShares Expanded Tech-Software Sector ETF slipped about 1%, while the Philadelphia Semiconductor Index fell about 2%.

Among large-cap names, Google GOOGL and Amazon AMZN each dropped about 1%, and Nvidia NVDA slid about 1%. Meta Platforms META was little changed, and Microsoft MSFT also saw minimal movement. Apple AAPL showed modest gains but remained within a narrow range.

Palantir PLTR bucked the trend, climbing about 1%, possibly on its ties with defense contracts. Monday.com MNDY declined about 3%, reflecting sensitivity to geopolitical uncertainty.

Semiconductor stocks broadly ceded ground: Taiwan Semiconductor Manufacturing (TSM) fell about 2%, Micron Technology MU slipped about 1%, Qualcomm QCOM lost about 1%, and Marvell Technology (MRVL) slid about 2%. IBM IBM and Kyndryl Holdings KD each edged down about 1%.

The S&P 500, Nasdaq Composite, and Dow all retreated roughly 1% as investors weighed the impact of Israel's strikes on Iran. The effects of the attack have cascaded across global markets, with a strong risk-off move for several asset classes, said Deutsche Bank's Henry Allen.

Israeli Prime Minister Benjamin Netanyahu said, This operation will continue for as many days as it takes to remove this threat, underscoring uncertainty. Market participants remain alert to how the situation might affect tech demand and broader sentiment.