Chip Selloff Dents Markets as AI Rally Falters, $1.3 Trillion Vanishes
TL;DR Summary
U.S.-traded chipmakers tumbled on Friday, wiping about $1.3 trillion from market value as AI-focused giants like Nvidia, Micron and AMD led losses after Broadcom's weak results; the PHLX chip index fell about 10%, dragging the broader market with the S&P 500 down around 2.6% as investors weighed higher rates and ongoing concerns about pricey tech stocks amid the AI hype.
- Chip slump erases $1.3 trillion in stock market value Reuters
- Marvell, Micron shares tumble as the chip sector suffers its worst day in 6 years MarketWatch
- Memory-Chip Stocks Micron, Sandisk Get Their Wings Clipped Investor's Business Daily
- Why Is Micron Stock Falling Today? A New Warning Points to an Early Peak. Barron's
- Why Micron Stock Is Sinking Today The Motley Fool
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