{"id":15322,"date":"2026-06-24T01:20:06","date_gmt":"2026-06-24T01:20:06","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/finance\/nasdaq-falls-global-chip-rout-2026-06-24\/"},"modified":"2026-06-24T01:21:29","modified_gmt":"2026-06-24T01:21:29","slug":"nasdaq-falls-global-chip-rout-2026-06-24","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/nasdaq-falls-global-chip-rout-2026-06-24\/","title":{"rendered":"Nasdaq drops over 2% as global chip selloff accelerates"},"content":{"rendered":"
\"US<\/figure>\n\n\n

US equities fell sharply on Tuesday as a global selloff in semiconductor and artificial intelligence linked stocks deepened, pulling the Nasdaq Composite<\/strong> down more than 2%<\/strong> and erasing over $1 trillion<\/strong> in tech market value in recent sessions.<\/p>\n\n\n\n

Market overview<\/h2>\n\n\n\n
Index<\/strong><\/th>Close (approx.)<\/strong><\/th>Move & % Change<\/strong><\/th>Comments<\/strong><\/th><\/tr><\/thead>
Nasdaq 100<\/strong><\/td>approx. 19,000<\/td>-1,000 pts (down over 3%)<\/td>Tech heavy gauge hit by chip and AI stocks.<\/td><\/tr>
Nasdaq Composite<\/strong><\/td>approx. 25,800<\/td>-2.2%<\/td>Extended prior session underperformance in big tech.<\/td><\/tr>
S&P 500<\/strong><\/td>approx. 7,396<\/td>-1.4%<\/td>Broad based weakness, opened 1.54% lower.<\/td><\/tr>
Dow Jones Industrial Average<\/strong><\/td>approx. 51,515<\/td>flat to -0.4%<\/td>Recovered about 350 pts from opening lows.<\/td><\/tr>
DJ Total Stock Market Index<\/strong><\/td>approx. 73,386<\/td>-0.99%<\/td>Signalled wider US equity decline.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

    \n
  • US stocks<\/strong> opened lower as tech selling from Asia carried into Wall Street.<\/li>\n\n\n\n
  • Nasdaq 100<\/strong> underperformed as investors exited high valuation AI names.<\/li>\n\n\n\n
  • Dow Jones<\/strong> fared better due to lower mega tech weight and rotation to old economy stocks.<\/li>\n\n\n\n
  • Philadelphia Semiconductor Index<\/strong> fell nearly 8%<\/strong>, all 30 constituents ended lower.<\/li>\n\n\n\n
  • Tech market capitalisation losses topped $1 trillion<\/strong> in the recent selloff.<\/li>\n<\/ul>\n\n\n\n

    Key movers: US technology and chips<\/h2>\n\n\n\n
    Top Gainers<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
    IBM<\/strong><\/td>Technology<\/td>Rose about 4% after brokerage upgrade and OpenAI cybersecurity partnership.<\/td><\/tr>
    Edgewell Personal Care<\/strong><\/td>Consumer<\/td>Gained around 9% after rejecting a takeover offer.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    Top Losers<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
    Micron Technology<\/strong><\/td>Semiconductors<\/td>Dropped 11 to 13%<\/strong> ahead of quarterly results.<\/td><\/tr>
    SanDisk<\/strong><\/td>Memory & storage<\/td>Fell about 9 to 13%<\/strong> in chip led selloff.<\/td><\/tr>
    Qualcomm<\/strong><\/td>Semiconductors<\/td>Declined around 6%<\/strong> as chip stocks weakened.<\/td><\/tr>
    Intel<\/strong><\/td>Semiconductors<\/td>Lost 6 to over 7%<\/strong> in overnight trade.<\/td><\/tr>
    AMD<\/strong><\/td>Semiconductors<\/td>Fell about 6%<\/strong> alongside peers.<\/td><\/tr>
    Nvidia<\/strong><\/td>Semiconductors<\/td>Dropped around 2 to 8%<\/strong> as AI rally unwound.<\/td><\/tr>
    Alphabet<\/strong><\/td>Technology<\/td>Extended prior losses, down about 0.8 to 2%<\/strong>.<\/td><\/tr>
    Tesla<\/strong><\/td>Automobiles \/ Tech<\/td>Declined around 2%<\/strong> in early trade.<\/td><\/tr>
    Primoris Services<\/strong><\/td>Infrastructure<\/td>Slumped 35%<\/strong> after cutting full year earnings guidance.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
      \n
    • Micron<\/strong> shares had surged over 300% year to date before the pullback.<\/li>\n\n\n\n
    • Alphabet<\/strong> had fallen 5% in the previous session after senior AI engineers departed.<\/li>\n\n\n\n
    • Microsoft<\/strong> and Amazon<\/strong> gained 1.8%<\/strong> and 0.6%<\/strong>, respectively, bucking the tech slide.<\/li>\n\n\n\n
    • Meta Platforms<\/strong> ended just below the flat line.<\/li>\n\n\n\n
    • SpaceX<\/strong> slipped another 1%<\/strong> pre market after a prior 16.4%<\/strong> drop, trading just above $156<\/strong>.<\/li>\n<\/ul>\n\n\n\n

      Global cues and sectoral action<\/h2>\n\n\n\n
      Market\/Asset<\/strong><\/th>Movement<\/strong><\/th>Notes<\/strong><\/th><\/tr><\/thead>
      Kospi (South Korea)<\/strong><\/td>down 10%<\/td>Hit circuit breaker, led by semiconductor heavyweights.<\/td><\/tr>
      Nikkei 225 (Japan)<\/strong><\/td>down 3.6%<\/td>Fell from record territory amid tech weakness.<\/td><\/tr>
      S&P\/ASX 200 (Australia)<\/strong><\/td>down 0.3%<\/td>Tracked global risk off mood.<\/td><\/tr>
      CAC 40 (France)<\/strong><\/td>down 0.6%<\/td>European equities followed Wall Street lower.<\/td><\/tr>
      DAX (Germany)<\/strong><\/td>down 1%<\/td>Pressure from global tech and growth concerns.<\/td><\/tr>
      FTSE 100 (UK)<\/strong><\/td>down 0.5%<\/td>Declined in line with broader risk aversion.<\/td><\/tr>
      Brent crude<\/strong><\/td>about -0.3% to $77.7<\/td>Eased after US waiver on Iranian oil sanctions.<\/td><\/tr>
      US crude (WTI)<\/strong><\/td>about -3% to $73.8<\/td>Fell on expectations of higher Iranian supply.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

        \n
      • Kospi<\/strong> drop followed reports SK Hynix<\/strong> slowed advanced AI chip expansion to boost DRAM output.<\/li>\n\n\n\n
      • SK Hynix<\/strong> and Samsung Electronics<\/strong> each fell 12.5%<\/strong>, despite large year to date gains.<\/li>\n\n\n\n
      • Nifty 50<\/strong> and Hang Seng Index<\/strong> also ended with steep losses, mirroring US tech weakness.<\/li>\n\n\n\n
      • MSCI<\/strong> kept South Korea in its Emerging Markets category, citing unresolved structural issues.<\/li>\n<\/ul>\n\n\n\n
          \n
        • “Any headline that can be read as ‘AI memory demand might be plateauing’ gets sold hard right now” Amanda Lyons, head of research, Energy Group Capital.<\/li>\n<\/ul>\n\n\n\n

          Macro drivers and rates outlook<\/h2>\n\n\n\n
          Statistic<\/strong><\/th>Value\/Change<\/strong><\/th>Context<\/strong><\/th><\/tr><\/thead>
          US 10 year Treasury yield<\/strong><\/td>about 4.49%<\/td>Up from 4.43% a week earlier, reflects higher rate expectations.<\/td><\/tr>
          US inflation (CPI, May est.)<\/strong><\/td>4.1% vs 3.8%<\/td>Data due Thursday, key for Fed outlook.<\/td><\/tr>
          Fed hike probability (Dec)<\/strong><\/td>about 88%<\/td>Up from 57 to 61%, per CME FedWatch Tool.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

          Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

            \n
          • Traders priced a higher chance of at least one US rate hike by year end.<\/li>\n\n\n\n
          • Market focus shifted to PCE inflation<\/strong>, the Federal Reserve’s preferred gauge.<\/li>\n\n\n\n
          • Chicago Fed officials signalled attention on whether inflation stays elevated or eases.<\/li>\n\n\n\n
          • Higher yields weighed on growth and technology stocks reliant on future earnings.<\/li>\n<\/ul>\n\n\n\n

            AI and chip cycle concerns<\/h2>\n\n\n\n
              \n
            • Investors questioned whether AI related capex can justify elevated semiconductor valuations.<\/li>\n\n\n\n
            • Reports of SK Hynix<\/strong> reallocating capacity reinforced worries on AI data centre demand.<\/li>\n\n\n\n
            • Domestic broker commentary highlighted sensitivity to earnings expectations after strong gains.<\/li>\n\n\n\n
            • The recent AI led rally in global equities showed signs of reversing.<\/li>\n<\/ul>\n\n\n\n

              Technical outlook: US indices and volatility<\/h2>\n\n\n\n
                \n
              • Nasdaq Composite<\/strong> fell more than 1.3%<\/strong> in the prior session, then over 2%<\/strong> on Tuesday.<\/li>\n\n\n\n
              • S&P 500<\/strong> opened 1.54%<\/strong> lower, indicating persistent selling pressure.<\/li>\n\n\n\n
              • Futures for Nasdaq 100<\/strong> and S&P 500<\/strong> had earlier signalled declines up to 2.8%<\/strong> and 1.4%<\/strong>.<\/li>\n\n\n\n
              • Traders watched Micron<\/strong> earnings for cues on AI memory demand and sector direction.<\/li>\n<\/ul>\n\n\n\n

                Oil and geopolitical backdrop<\/h2>\n\n\n\n
                  \n
                • US waived some sanctions on Iranian oil exports for 60 days<\/strong>, aiding supply expectations.<\/li>\n\n\n\n
                • An interim US Iran agreement eased restrictions on Iranian ports and exports.<\/li>\n\n\n\n
                • Certain Iranian assets were set for unfreezing, though timelines remained unclear.<\/li>\n\n\n\n
                • Crude prices stayed below $78<\/strong> per barrel despite Middle East tensions.<\/li>\n<\/ul>\n\n\n\n

                  FAQ<\/h2>\n\n\n\n

                  Q: Why did US chip stocks fall so sharply?<\/strong><\/p>\n\n\n\n

                    \n
                  • Heavy profit taking followed reports SK Hynix<\/strong> slowed advanced AI chip expansion, stoking fears AI memory demand may plateau and exposing stretched valuations across US semiconductor names.<\/li>\n<\/ul>\n\n\n\n

                    Q: How did non chip big tech perform during the selloff?<\/strong><\/p>\n\n\n\n

                      \n
                    • Alphabet<\/strong> extended losses, while Microsoft<\/strong>, Amazon<\/strong>, and Meta<\/strong> were relatively resilient, with Microsoft and Amazon posting gains and Meta closing near flat.<\/li>\n<\/ul>\n\n\n\n

                      Q: What upcoming data could influence the next move in US tech stocks?<\/strong><\/p>\n\n\n\n

                        \n
                      • Investors are watching Micron<\/strong> earnings and US PCE inflation<\/strong> data, which will shape expectations for AI demand and the Federal Reserve’s rate path, both critical for growth stock valuations.<\/li>\n<\/ul>\n\n\n\n

                        Frequently Asked Questions<\/h2>\n\n\n\n

                        Why did US chip stocks fall so sharply?<\/h3>\n\n\n\n

                        Heavy profit taking followed reports that SK Hynix slowed advanced AI chip expansion, raising concerns that AI memory demand may be plateauing and exposing stretched valuations across US semiconductor names.<\/p>\n\n\n\n

                        How did non chip big tech perform during the selloff?<\/h3>\n\n\n\n

                        Alphabet extended losses, while Microsoft, Amazon and Meta were relatively resilient, with Microsoft and Amazon gaining and Meta closing near flat.<\/p>\n\n\n\n

                        What upcoming data could influence the next move in US tech stocks?<\/h3>\n\n\n\n

                        Investors are focused on Micron\u2019s earnings and US PCE inflation data, which will guide expectations for AI demand and the Federal Reserve\u2019s rate path, both key for growth stock valuations.<\/p>\n","protected":false},"excerpt":{"rendered":"

                        US equities fell sharply on Tuesday as a global selloff in semiconductor and artificial intelligence linked stocks deepened, pulling the Nasdaq Composite down more than 2% and erasing over $1 trillion in tech market value in recent sessions. Market overview Index Close (approx.) Move & % Change Comments Nasdaq 100 approx. 19,000 -1,000 pts (down […]<\/p>\n","protected":false},"author":15,"featured_media":15323,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_ayudawp_aiss_exclude":false,"_ayudawp_aiss_summary":"US equities fell sharply on Tuesday as a global selloff in semiconductor and artificial intelligence linked stocks deepened, pulling the Nasdaq Composite down more than 2% and erasing over $1 trillion in tech market value in recent sessions. Heavy profit taking followed reports that SK Hynix slowed advanced AI chip expansion, raising concerns that AI memory demand may be plateauing and exposing stretched valuations across US semiconductor names. Investors are focused on Micron\u2019s earnings and US PCE inflation data, which will guide expectations for AI demand and the Federal Reserve\u2019s rate path, both key for growth stock valuations.","_ayudawp_aiss_summary_provider":"extractive","_ayudawp_aiss_summary_hash":"e174dd6d56385e2835bd7ddb2c673454b73c0b0d","footnotes":""},"categories":[512],"tags":[],"class_list":["post-15322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"blocksy_meta":[],"uagb_featured_image_src":{"full":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner.png",1200,640,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner-1024x546.png",1024,546,true],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner.png",1200,640,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner.png",1200,640,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner-640x640.png",640,640,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/nasdaq-falls-global-chip-rout-2026-06-24-banner-150x80.png",150,80,true]},"uagb_author_info":{"display_name":"Team Lemonn","author_link":"https:\/\/lemonn.co.in\/blog\/author\/yudh\/"},"uagb_comment_info":0,"uagb_excerpt":"US equities fell sharply on Tuesday as a global selloff in semiconductor and artificial intelligence linked stocks deepened, pulling the Nasdaq Composite down more than 2% and erasing over $1 trillion in tech market value in recent sessions. Market overview Index Close (approx.) Move & % Change Comments Nasdaq 100 approx. 19,000 -1,000 pts (down…","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=15322"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15322\/revisions"}],"predecessor-version":[{"id":15324,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15322\/revisions\/15324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/15323"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=15322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=15322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=15322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}