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S&P 500 falls on global chip rout with Nasdaq off 2%, led by Micron: Live updates

A global sell-off in semiconductor and AI-linked stocks has dragged down the S&P 500 and Nasdaq Composite. The downturn is driven by doubts over AI spending and bubble worries. The Nasdaq fell more than 2% in opening trading as the sell-off intensified.

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What changed

The tech sell-off has extended to a second day and spread globally.

Live updates

  1. S&P 500 and Nasdaq Sink as Global Chip Rout Deepens

    A global sell-off in semiconductor and AI-linked stocks has dragged down the S&P 500 and Nasdaq Composite. The downturn is driven by doubts over AI spending and bubble worries. The Nasdaq fell more than 2% in opening trading as the sell-off intensified.

    What's confirmed:

    • The Nasdaq Composite fell more than 2% in opening trading.
    • The S&P 500 and Nasdaq Composite both declined due to a tech sell-off.
    • Micron, Nvidia, and AMD led the sell-off as the AI trade cooled.
    • The tech sell-off has persisted for two consecutive days.
    • Concerns over AI spending and bubble worries pressured US chip stocks.

    Still unconfirmed:

    • The South Korean market plunged 10% due to AI stocks being trampled.
    • The global tech sell-off was led by a SpaceX slide.
    • The Nasdaq-100 dropped 3%.
    confidence 90%