Chip rout dents AI optimism as Nasdaq and S&P slide
TL;DR Summary
US stocks dipped as a global memory-chip sell-off stoked doubts about AI demand and valuations, with the Nasdaq Composite down about 1.6% and the S&P 500 slipping around 1%, while the Dow barely rose; investors eye Micron earnings and the broader memory cycle to gauge AI-driven demand.
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- Wall Street is getting trampled by an AI sell-off. South Korean market plunges 10% CNN
- Tech Stocks Drive ‘Unnerving’ Sell-Off in Global Markets The New York Times
- S&P 500 falls on global chip rout with Nasdaq off more than 1%, led by Micron: Live updates CNBC
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