Intel, Applied Materials, Corning, and Advanced Micro Devices lead the sector’s decline. Market sentiment soured further after China’s Moonshot AI released a new model claiming performance parity with top-tier U.S. systems. Netflix shares dropped 11% as investors reacted to the streamer’s warning of decelerated growth in the third quarter. The S&P 500 and Dow Jones Industrial Average followed the Nasdaq’s downward trend, each shedding approximately 1%.
In section Market Quotes
Nasdaq Slides as Semiconductor Selloff Intensifies
A sharp retreat in semiconductor stocks dragged the Nasdaq composite down nearly 2% during Friday’s early trading session. The decline follows a broader market slump in Asia and mounting investor anxiety over whether current artificial intelligence spending can sustain the high valuations of major industry players.
Global markets mirrored this instability. Benchmark indexes in Taiwan and Japan plummeted 6.5% and 4%, respectively, while South Korea’s Kospi remained closed for a holiday. Amid the equity selloff, Brent crude futures rose above $86 a barrel, driven by persistent geopolitical friction between the United States and Iran.
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