Global markets today, July 28 -- The semiconductor stocks across bourses are under severe selling pressure. In the US stock market, ASML shares tumbled by up to 8.40% during Monday's trading, while ASM International and BE Semiconductor stocks also witnessed sizeable losses. SK Hynix's share price tumbled over 7% on Monday. Amongst chipmaker stocks, NVDIA's share price led the sell-off, losing around 5%.

The VanEck Semiconductor ETF fell more than 2%, extending Friday's losses, as concerns over AI-related valuations resurfaced. Chip stocks had briefly rallied earlier in the session following Chinese memory-chip maker CXMT's blockbuster Shanghai IPO before profit-taking erased those gains. Meanwhile, WTI crude extended its decline after W...