Nasdaq Slides 5.52% as Nvidia and AMD Drive a Broad Tech Rout

U.S. technology stocks suffered a broad rout, with the Nasdaq Composite falling 5.52% in its steepest one-day drop in 19 months and chipmakers Nvidia and AMD among the hardest hit. Nvidia fell 9.26%, while AMD dropped more than 17%. Losses spread across AI infrastructure: Applied Digital, Cipher Digital and IREN each fell more than 14%; Nebius Group declined about 15%, and CoreWeave dropped about 10%. Memory and optical networking stocks also slid, including SanDisk, down more than 22%, Western Digital, down 17.35%, Micron Technology, down 17.46%, and Lumentum, down more than 18%.

Source: TokenPost