From Kiplinger · · 1m 10s
Nasdaq Plunges 1,421 Points in Tech Rout
Tech stocks crash as Nasdaq drops 5.5% amid AI hype fears.
In brief
Tech stocks crash as Nasdaq drops 5.5% amid AI hype fears. Nasdaq fell 5.5% to 24,315 after tech stocks sold off sharply on AI hype concerns. Originally reported by Kiplinger.
Wall Street Bloodbath
Stocks sold off sharply as market participants took profits on this year's biggest gainers.
Nasdaq Plunges 5.5%
Nasdaq Composite dropped 5.5% to 24,315, more than 10% below its October 6 high of 27,599.79.
Dow Jones Slides 3.4%
Dow Jones Industrial Average fell 3.4% to 51,523, its lowest level since early 2025.
S&P 500 Plummets 4.4%
S&P 500 dropped 4.4% to 7,353, with all 11 sectors declining.
Tech Stocks Lead Decline
Memory stocks Micron Technology and Sandisk fell sharply after AI hype drove prices up.
Nvidia Slumps 9.3%
Nvidia dropped 9.3% on its worst day since the DeepSeek crash on January 27, 2025.
Qualcomm Sinks 9.5%
Qualcomm fell 9.5% on weak earnings outlook and overexposure to mobile market concerns.
AppLovin Soars 31%
AppLovin jumped 31% after beating earnings estimates with strong Q3 results.
Here's the gist
Nasdaq fell 5.5% to 24,315 after tech stocks sold off sharply on AI hype concerns.
