Intel's 22% share price drop due to disappointing earnings and layoffs impacted global chip stocks.

Intel's 22% share price drop, due to disappointing earnings and a 15% employee layoff plan, negatively impacted global chip stocks, including Samsung, TSMC, and European firm ASML. The VanEck Semiconductor ETF, which includes major names in the sector, closed 6.5% lower in the US on Thursday, amidst a global market sell-off affecting tech stocks.