Semiconductor stocks fall after best day in two years, pressuring technology sector

Semiconductor stocks fell on Tuesday, pressuring the overall technology sector as chipmakers retreated from their best session in more than two years. The PHLX Semiconductor Index SOXX, -2.16% lost 0.8%. On Monday, the index spiked 4.2%, its biggest one-day jump since January 2016. Among the biggest decliners in the industry on Tuesday, Nvidia Corp. NVDA, -7.38% fell 4.1% while Advanced Micro Devices AMD, -3.39% was off 2.6%. The two comprised the two largest percentage decliners among components of the Technology Select Sector SPDR ETF XLK, -1.75% the largest exchange-traded fund to track the tech sector, which fell 0.5%. The weakness in tech pressured the Nasdaq Composite Index COMP, -1.56% which fell 0.5%. The Dow Jones Industrial Average DJIA, -0.05% rose 0.6% and the S&P 500 SPX, -0.50% was up 0.1%. Despite the day's retreat, the semiconductor index remains up 9.2% for 2018.