The US stock market experienced widespread sell-off, and the Nasdaq Composite Index and Nasdaq 100 Index, which concentrate technology stocks, had the highest declines. The S&P 500 index fell 2.7%, the NASDAQ fell about 4%, and the NASDAQ 100 index fell 4.52%. The S&P 500 index fell below the 100-day EMA and the September low. The NASDAQ Composite Index and the NASDAQ 100 Index both fell below the 200-day EMA. The short-term rebound would require regaining these key technical levels. The AI industry chain was completely sold off, and the decline extended from chips and storage to data center network equipment, optical communications, AI cloud computing and power suppliers. Storage stocks such as SanDisk, Western Digital, Micron Technology, and SK Hynix fell more than 10%; chip stocks such as AMD, Qualcomm, and Arm fell more than 10%; data center connectivity and optical communication stocks such as AsteraLabs, Lumentum, Coherent, Credo, and Maywell Technology fell more than 10%; and AI cloud computing and data center power suppliers such as Nebius, CoreWeave, and Bloomenergy also fell more than 10%, among them BloomEnergy and SanDisk dropped nearly 18%. The breadth of the market worsened at the same time. The number of individual stocks falling on the NASDAQ was nearly 4 times that of individual stocks rising, individual stocks falling on the NYSE were about 2.5 times higher, and individual stocks falling in the S&P 500 index were about 1.6 times higher than individual stocks, indicating that the sell-off has spread from large technology stocks to a wider market.
Zhitongcaijing · 1d ago
The US stock market experienced widespread sell-off, and the Nasdaq Composite Index and Nasdaq 100 Index, which concentrate technology stocks, had the highest declines. The S&P 500 index fell 2.7%, the NASDAQ fell about 4%, and the NASDAQ 100 index fell 4.52%. The S&P 500 index fell below the 100-day EMA and the September low. The NASDAQ Composite Index and the NASDAQ 100 Index both fell below the 200-day EMA. The short-term rebound would require regaining these key technical levels. The AI industry chain was completely sold off, and the decline extended from chips and storage to data center network equipment, optical communications, AI cloud computing and power suppliers. Storage stocks such as SanDisk, Western Digital, Micron Technology, and SK Hynix fell more than 10%; chip stocks such as AMD, Qualcomm, and Arm fell more than 10%; data center connectivity and optical communication stocks such as AsteraLabs, Lumentum, Coherent, Credo, and Maywell Technology fell more than 10%; and AI cloud computing and data center power suppliers such as Nebius, CoreWeave, and Bloomenergy also fell more than 10%, among them BloomEnergy and SanDisk dropped nearly 18%. The breadth of the market worsened at the same time. The number of individual stocks falling on the NASDAQ was nearly 4 times that of individual stocks rising, individual stocks falling on the NYSE were about 2.5 times higher, and individual stocks falling in the S&P 500 index were about 1.6 times higher than individual stocks, indicating that the sell-off has spread from large technology stocks to a wider market.