Declines in major semiconductor and AI-related stocks dragged the Nasdaq lower, with losses exceeding 5% for several key names.
The Nasdaq Composite fell 1.47% to 25,881.95, led by a broad sell-off in AI and chip stocks. The Nasdaq 100 dropped 1.61%, while the S&P 500 and Dow Jones Industrial Average declined 0.51% and 0.20%, respectively.
Semiconductor and AI infrastructure stocks saw steep declines, with Nebius (NBIS) down 13.9% to $171.77 and Sandisk (SNDK) falling 12.63% to $1,411.08. Other notable losers included Marvell Technology (MRVL), Credo Technology (CRDO), and Intel (INTC), all dropping over 5%.
Despite today’s losses, most stocks remain sharply higher year-to-date, with Sandisk up 494.44%. The Russell 2000 was nearly flat, down just 0.06% to 2,974.56.