Nasdaq Drops 2% as Chip Stocks Lead Global Selloff
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- Nasdaq tumbled more than 2% in opening trading as a global chip rout dragged US tech stocks, with Micron leading the declines and the S&P 500 also falling, per CNBC.
- Nvidia, Micron, and AMD led a tech sell-off tied to cooling AI-trade enthusiasm, while US chip stocks dropped after an overnight AI selloff in Asia stoked bubble worries, per Yahoo Finance and Bloomberg.
Why it matters: A 2%+ Nasdaq decline led by Nvidia, Micron, and AMD — the names that powered this year's AI rally — puts the chip complex at the center of a global repricing, not a domestic rotation. With Asia selling off overnight and US markets following at the open, the selloff's cross-time-zone reach shows how exposed major indexes remain to a single trade unwinding.
