Semiconductor and AI stocks lead declines, dragging the Nasdaq 100 down 1.3% and the Nasdaq Composite 0.9% in broad-based selling.
Heavy selling in chip and AI stocks pushed major indices lower, with the Nasdaq 100 falling 1.3% and the Nasdaq Composite down 0.9%. The S&P 500 declined 0.37%, reflecting broader market pressure from the tech sector.
Semiconductor stocks saw widespread declines, with Sandisk dropping 10.16% as the weakest performer. The sell-off extended across the sector, impacting technology-heavy benchmarks and shifting technical outlooks to bearish for the Nasdaq 100 and modestly bearish for the Nasdaq Composite.
Key support and resistance levels were highlighted, with sellers maintaining control unless buyers reclaim critical price points. The S&P 500 remained technically neutral amid the downturn.