Chip Sector Slump Rattles Nasdaq as SpaceX Faces Market Debut

Market sentiment shifted as analysts began weighing the durability of AI-driven earnings against the volatility currently plaguing the hardware sector. Micron Technology, Western Digital, and SanDisk recorded significant losses, prompting a broader reappraisal of performance expectations for chip manufacturers. Even as Samsung reported strong quarterly results, the gains failed to insulate the tech-heavy index from broader selling pressure.

Nvidia and other key industry players showed persistent instability throughout the session. Compounding these technical pressures, fluctuating oil prices and lingering geopolitical tensions have forced a tactical retreat among traders. Many are now pivoting their focus toward AI hyperscalers, seeking refuge in larger, more stable entities as the chip sector struggles to maintain its recent momentum.