Tech Stocks Fall as Chip Rally Halts. Nasdaq Drops From Record High.

Tech stocks looked set to drop on Tuesday, as investors took the opportunity to lock in some profit following a stellar rally in chip stocks. Futures tracking the Nasdaq 100 were 0.7% lower. Red-hot Intel and Micron Technology both slid by about 2% and Qualcomm, which hit a record high on Monday, was down by a similar amount.