Market sentiment remains fragile as participants weigh whether current infrastructure spending on artificial intelligence justifies elevated price targets. The unease intensified following the debut of a new model from China’s Moonshot AI, which claims to outperform established American systems. Among the hardest hit, Intel, Applied Materials, Corning, and Advanced Micro Devices recorded significant declines.
In section Market Quotes
Nasdaq Retreats as Semiconductor Rout Intensifies
A relentless selloff in chip stocks dragged the Nasdaq composite down by 1% Friday, as investors retreated from high-valuation tech firms. The downturn follows a broader global slump that saw benchmark indexes in Taiwan and Japan tumble by 6.5% and 4% respectively, signaling deepening anxiety over the sustainability of AI capital expenditures.
Tech sector volatility extended to consumer platforms, with Netflix shares sliding roughly 11% after the company projected slower growth for the third quarter. While equity markets faced pressure, oil prices saw an uptick, with Brent crude futures climbing above $86 a barrel amid ongoing geopolitical friction between the United States and Iran.
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