Semiconductor Selloff Sinks Nasdaq 100 1.8% as AI Valuation Doubts Hit Chip Stocks
Updated
Updated · Bloomberg · Jul 10
Semiconductor Selloff Sinks Nasdaq 100 1.8% as AI Valuation Doubts Hit Chip Stocks
3 articles · Updated · Bloomberg · Jul 10
Summary
Semiconductor shares tumbled more than 4.5%, dragging the Nasdaq 100 down 1.8% as investors questioned whether huge AI spending can support elevated chipmaker valuations.
Oil prices jumped at the same time, pushing bond yields higher and adding pressure to growth stocks already leading this year’s market gains.
Samsung Electronics’ record profit failed to steady sentiment, showing company-specific earnings strength was not enough to offset the broader retreat from AI-linked names.
Most S&P 500 companies still rose, pointing to a rotation away from tech and into other industries even as SpaceX joined the Nasdaq 100.