Dow Rises as Chip Stocks Slide in Rotation
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- Dow Jones opened higher as investors rotated out of chip stocks, with Micron among the decliners as the sector sold off.
- Nasdaq-100 slid into correction territory amid a global selloff in chip and memory stocks.
- Wall Street's rotation from AI favorites into less-loved stocks accelerated while oil prices continued easing.
Why it matters: The Nasdaq-100's move into correction territory shows the selloff has broadened beyond single names like Micron to drag the tech-heavy index itself down, while the Dow's rise and easing oil signal capital is rotating from concentrated AI winners into the broader, previously unloved market — a shift that reverses the trade that drove Micron up 755% year-to-date per prior coverage.
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