Nasdaq 100 wipes out over $1 trillion in 5 hours as chip, storage stocks lead drop

The Nasdaq 100 wiped out more than $1 trillion in market value in five hours, turning a 1.3% morning gain into a 1.3% loss. Chip and storage stocks led the drop, with Marvell down 13.0%, Intel 8.9%, Seagate 8.1%, AMD and Western Digital 7.4%, Sandisk 7.3%, Micron 5.6% and Lam Research 5.2%.

Detected & updated continuously · Source: Nebula