Nasdaq Drops 2.9% as AI Spending Fears Spread From Megacaps to Chips
IXIC sits 23% above its 52-week low of $20,690.249.
Summary
The Nasdaq Composite fell 2.86% Friday, extending its October slide as investors question whether the massive AI infrastructure buildout can pay off fast enough. The selling widened beyond megacaps into semiconductors: Intel dropped 28.6% on a disappointing outlook, AMD fell 10.9%, Nvidia lost 4.2%, and the semiconductor index shed 7.2%. More than $2 trillion of Nasdaq-100 market value was at risk of being erased during October, with rising debt financing for AI buildouts adding to the worry. The index is now testing its rising 200-day EMA, a level that decides whether this stays a correction or turns into a deeper reset. Apple reports next week and Nvidia reports in November — those results are the next hard evidence on AI demand and spending.
At the time of this announcement, IXIC was trading at $25,437.00 on NASDAQ in the Technology sector. The 52-week trading range was $20,690.25 to $27,722.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Coinpedia.