Nasdaq sell-off batters Asian chip stocks as SK Hynix, Samsung, Softbank, TSMC tumble - CNBC — SkimNews
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- Nasdaq was down more than 3% as of Oct. 30, with investor concern over tech profitability driving the sell-off.
- Alphabet fell 13% and Intel plunged as investors shifted attention from AI growth to immediate revenue.
- SK Hynix tumbled alongside Samsung, Softbank and TSMC as the Nasdaq sell-off battered Asian chip stocks.
- BBC said global tech stocks were plunging amid AI slowdown fears, while Bloomberg described global stocks tumbling as an AI rout deepened.
Why it matters: Nasdaq's more-than-3% decline and Alphabet's 13% fall make the repricing concrete, while the spillover into SK Hynix, Samsung, Softbank and TSMC extends it to four Asian names. The deeper issue is the market's shift from AI growth toward immediate revenue.
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