The stock market experienced a notable decline on Thursday, primarily driven by hawkish remarks from three Federal Reserve presidents. The NASDAQ, initially up over 1%, ended the day down 1.4%, leading the decline. The Dow Jones and S&P 500 also fell by 1.35% and 1.23%, respectively.

One of the major losers of the day was AMD, a leading chipmaker, with its stock price dropping 8.26% and closing at $165.83, a level last seen in February 20th. This was despite positive industry data showing a 16% year-over-year increase in global semiconductor sales for February.

The hawkish statements came from Minneapolis Fed President Neel Kashkari, Cleveland Fed President Loretta Mester, and Chicago Fed President Austan Goolsbee. Their remarks indicated a potential postponement of interest rate cuts if inflation remains high and the need for further data before considering any rate adjustments.

Market analysts believe that the hawkish comments overshadowed the positive news from the Semiconductor Industry Association. This shift in sentiment triggered a broad sell-off, particularly in growth stocks like AMD.

Looking forward, technical indicators suggest that AMD's stock price could face further pressure, but there are some support levels at $162.50 and $150 that could offer temporary respite.

The market will continue to monitor the Fed's stance and its impact on the broader market and chipmakers like AMD.