Why Arm Holdings, Indie Semiconductor, and Logitech International All Slumped This Week

Shares of technology hardware and chip names Arm Holdings (NASDAQ: ARM), Indie Semiconductor (NASDAQ: INDI), and Logitech Holdings (NASDAQ: LOGI) fell this week, down 16.9%, 13%, and 10.1%, respectively, through Thursday trading, according to data from S&P Global Market Intelligence.

The technology sector, in general, ran into resistance this week as long-term interest rates rose to yearly highs on the back of last week's "sticky" inflation readings. Moreover, technology bellwethers ASML Holdings and Taiwan Semiconductor Manufacturing (NYSE: TSM) had their earnings reports this week, throwing some cold water on the sector's early-year optimism.

Source Fool.com