A bunch of chip stocks took a hit this afternoon following a sell-off in South Korea. The main driver seems to be fears of an Iran conflict causing a spike in LNG prices. Since South Korea imports so much energy, higher costs could squeeze profits for major manufacturers like Samsung and SK Hynix. That sentiment spilled over to US markets. Applied Materials dropped 5.6% and Western Digital fell 6.9%. Seagate, MACOM, and Monolithic Power were also down significantly on the news.