Nasdaq Slides 0.66% as Chip Profit-Taking Offsets Dow Record at 52,742.66
Updated
Updated · CNBC · Jun 30
Nasdaq Slides 0.66% as Chip Profit-Taking Offsets Dow Record at 52,742.66
3 articles · Updated · CNBC · Jun 30
Summary
The Nasdaq fell 0.66% to 26,040.03 and the S&P 500 lost 0.22%, while the Dow ended nearly flat at 52,305.24 after touching an intraday record 52,742.66.
Semiconductor selling drove the weakness as investors locked in gains after the group surged more than 80% in the first half; Micron and Sandisk each dropped more than 10%.
Caterpillar, an AI-linked Dow winner, slid almost 7% and helped erase the blue-chip index's early advance even as Nvidia and Broadcom posted smaller declines.
Meta jumped nearly 9% after outlining a cloud business and excess-computing sales plan, with Microsoft up 3% and Apple almost 2%, limiting the broader tech retreat.
The session extended a 2026 rotation into non-tech shares after a strong first half—Dow up 8.9%, S&P 500 up 9.6%, Nasdaq up 12.8%, Russell 2000 up nearly 22%.