Nasdaq 100 briefly enters correction as chip and memory stocks slide
AI Market Summary
A sharp global selloff in chip and memory stocks briefly pushed the Nasdaq 100 into correction territory, signaling renewed fragility in the AI hardware trade. The move follows concerns that hyperscaler AI infrastructure spending may be less linear than expected and adds uncertainty ahead of major big-tech earnings. Weakness across memory, storage, and equipment names suggests near-term de-risking and multiple compression risk for AI-linked supply chains.
Impact level
● High
Affected assets
NCSINASDAQ1002USD/USDT-0.87%
AI Insight · NCSINASDAQ1002USD/USDTAI Insight
▼ Bearish
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The Nasdaq 100 briefly fell into technical correction territory, down more than 10% from its most recent record high, as chip and memory shares sold off. Sandisk, Western Digital, Seagate, Micron and AMD fell around 10%, while Dell Technologies dropped 13% and Intel declined 7%. Samsung Electronics and SK Hynix slid more than 15% and Kioxia sank 18%, pressuring suppliers tied to AI data centers. The declines followed renewed concern over the pace of AI infrastructure spending after Alphabet raised its projected capital expenditures to as much as $205 billion.
