The $600 Billion Tech Wipeout: These 10 Stocks Are Cracking As Energy Prices Surge

On of Wall Street's most crowded trades just hit a wall.

On Tuesday morning, more than $600 billion in market value was erased from the world's largest technology and semiconductor companies as escalating conflict in Iran triggered an energy-price shock that rippled across global equities.

What began as a surge in oil and natural gas prices quickly morphed into a broad risk-off unwind.

And the market's most crowded trade — particularly high-flying chipmakers and hardware names on the back of AI demand — took the brunt of it.

10 Stocks Lead Tuesday’s Global Tech Selloff

With the war in Iran now on its fourth day and no clear signs of de-escalation, financial markets are beginning to factor in a more troubling scenario: a conflict that drags on.

As of mid-morning trading in New York, West Texas Intermediate crude spiked 8% for the second straight session toward $77 per barrel while natural gas benchmarks spiked on fears of prolonged disruption around the Strait of Hormuz, a critical artery for global crude and LNG flows.

Global equities sold off sharply, Treasury yields climbed for a second consecutive session and volatility spiked as investors reassessed the inflationary fallout of prolonged energy disruption.

On Monday, President Donald Trump warned the conflict could last "weeks," reinforcing the view that this may not be a brief flare-up.

The Wall Street Journal reported Tuesday that Trump is open to backing armed militias in Iraq willing to challenge Tehran — a step that could widen the regional scope of the war.

Against that backdrop, the selloff in technology accelerated.

The iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ:SOXX) sunk 4.4% on the day. Meanwhile, the CBOE Volatility Index (VIX) surged 30%, on track for its largest single-day jump since the April 2025 tariff shock.

According to Companiesmarketcap.com, some of the world's most important technology names wiped out over $600 billion on Tuesday alone.

• Taiwan Semiconductor Manufacturing Company (NYSE:TSM): -$101.86 billion (-8.7%)
• Samsung Electronics Co. Ltd.: -$96.61 billion (-9.9%)
• Alphabet Inc. (NASDAQ:GOOGL): -$85.61 billion (-4.8%)
• NVIDIA Corporation (NASDAQ:NVDA): -$85.11 billion (-6.2%)
• SK Hynix Inc.: -$56.92 billion (-11.5%)
• Tesla Inc. (NASDAQ:TSLA): -$45.86 billion (-7.4%)
• Amazon.com Inc. (NASDAQ:AMZN): -$43.18 billion (-5.6%)
• Apple Inc. (NASDAQ:AAPL): -$35.41 billion (-3.9%)
• Micron Technology Inc. (NASDAQ:MU): -$28.71 billion (-9.2%)
• Broadcom Inc. (NASDAQ:AVGO): -$28.12 billion (-6.8%)

Image: Shutterstock