Chip Rout Sends Nasdaq Down 1%, Micron Leads Sell-Off
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- Nasdaq fell more than 1% and the S&P 500 declined in a global chip rout, per CNBC's headline
- Micron led the tech sell-off alongside Nvidia and Alphabet, with Yahoo Finance framing it as the AI trade cooling and the New York Times calling the market reaction "unnerving"
Why it matters: The Nasdaq's 1%+ drop led by chip stocks reverses the AI-driven rally that pushed indices to record highs, with Yahoo Finance explicitly labeling it "AI trade cools" — a notable shift in the dominant market narrative and the first major sell-off since semiconductors became the market's largest sector weighting.
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