A rout in chip stocks and ramp-up in Middle East tensions pulled down the major averages on Wednesday.

U.S. forces launched “self-defense strikes” against Iran, in retaliation for the downing of a helicopter on Monday evening.

Contracts for Wall Street benchmarks declined 0.3 per cent and the Nasdaq 100 fell 1.1 per cent. Read more at straitstimes.com. Read more at straitstimes.com.

Major US stock markets experienced a significant drop on Wednesday. Chipmaker stocks continued their decline, while new tensions between the US and Iran added to investor worries.…