Intel, AMD, Nvidia Lead Chip Selloff as Oil Soars After Tanker Attack Nauman Khan Thu, October 8, 2026 at 12:58 PM EDT INTC -6.39% CL=F +3.00% AMD -4.59% NVDA -2.91% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Chip stocks slipped in morning trading Thursday as higher Treasury yields and a jump in oil prices weighed on technology shares. Intel (INTC) fell about 3%, while Nvidia (NVDA) declined around 1% and Advanced Micro Devices (AMD) lost roughly 2%.
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Brent crude climbed above $104 a barrel, while the 10-year Treasury yield reached 5.29%, close to a 24-year high. Rising yields can pressure growth stocks by making future earnings less valuable, while higher energy costs can revive inflation concerns.
Oil prices surged Thursday after a tanker was hit by projectiles near Qatar, adding to concerns over disruptions through the Strait of Hormuz. The move came as hopes for a U.S.-Iran agreement weakened, with President Donald Trump having rejected Iran's proposal to reopen the key shipping route.
Separately, Intel has a company-specific issue in focus. Elon Musk said his companies would build and operate the planned Terafab AI chip complex in Texas, while Taiwan Semiconductor Manufacturing Company may lease part of the site. Intel is expected to remain involved in the venture.
The project matters to Intel because its strategy includes expanding its contract manufacturing business. Any change to Terafab's structure could affect investor expectations for that effort as semiconductor shares face broader market pressure.
