Chip stocks fall; Oman’s plan for Strait of Hormuz, and more

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  The Economist.

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  This is The World in Brief from The Economist.

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  Our top stories.

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  The Nasdaq 100, a tech-heavy index of American stocks,

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  fell by around 1% as concerns over AI-related spending and Chinese competition hurt semiconductor makers.

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  The index briefly dipped below its June peak by more than 10%, referred to as a correction by investors.

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  The broader S&P 500 index of American firms rose, however.

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  As investors remained confident in other sectors.

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  Oman reportedly presented a plan to Iran for joint management of the Strait of Hormuz.

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  Ships traversing the waterway would be asked to pay voluntary contributions,

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  just as they are when they transit Asia's Strait of Malacca.

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  Meanwhile, the White House said Benjamin Netanyahu, Israel's Prime Minister,

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  and Donald Trump had a positive and productive meeting in Washington.

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  Many people became trapped in a shopping center

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