Nasdaq Plunges 5%; Dow, S&P 500 Erase Rally Gains — SkimNews
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- Nasdaq plunged 5%.
- Chip stocks suffered a wipeout as the Nasdaq decline unfolded.
- Dow erased its post-election rally gains.
- S&P 500 erased its post-election rally gains.
- AI stocks were also highlighted as “high-flying,” alongside alcohol companies described as “tariff-hit.”
Why it matters: The session replaced the post-election advance with selling: the Nasdaq fell 5% in a chip-stock wipeout, while both the Dow and S&P 500 surrendered their rally gains. For chip-stock holders, the material shift was immediate, leaving the named indexes lower rather than extending the earlier rally.
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