Tech stocks slide as Asian memory makers plunge on Iran tensions

Tech shares declined on Monday as Asian memory-chipmakers tumbled amid renewed US-Iran hostilities and a jump in oil prices, knocking the Nasdaq 100 about 1.2% lower and the S&P 500 around 0.3%. Memory names such as Sandisk, Western Digital and Micron fell sharply, with SK Hynix posting a record one-day drop in Seoul, while Taiwan Semiconductor reported robust first-half revenue, underscoring mixed signals in the chip sector as investors shifted to risk-off mode and global markets wobbled on Hormuz-related tensions.