Shares of technology companies plunged on a flight from risk sparked by interest-rate and Middle East conflict fears.

Artificial-intelligence-enabling chip maker Nvidia fell by more than 2%, paring its gains for the year to date to roughly 79%, more than 10% below its recent peaks.

Shares of Apple declined after the mega-cap Silicon Valley firm's global smartphone shipments fell sharply in the first quarter, according to a closely followed research firm, toppling the iPhone maker from its perch as the world's largest phone maker.

The U.S. government is granting Samsung Electronics up to $6.4 billion to build chip-making facilities in Texas, the latest in a string of major subsidy awards from the Biden administration aimed at reviving semiconductor manufacturing in the U.S.

Write to Rob Curran at

(END) Dow Jones Newswires

04-15-24 1745ET