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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The NASDAQ index dropped 3% driven by a heavy sell-off in the technology sector, marking a significant downturn for growth-oriented stocks. According to reports, major chipmakers including Intel, AMD, and Micron tumbled, following a negative lead from Asian markets overnight. This movement reflects an acceleration of the tech sell-off that began earlier in the week, hitting semiconductor manufacturers particularly hard.
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Sign InThe rout extended to industry peers, with market data showing NVDA at $196.78 and TSM at $435.42 (close June 24, 2026). This sector-wide decline follows a period of heightened volatility in memory chip-related shares, as evidenced by Micron (MU) hitting a daily low of $992.55 per market data. Analysts note that the current pressure mirrors broader concerns regarding cyclical demand in the hardware space compared to previous quarters.
Investors are now focusing on key technical levels, with INTC closing at $132.28 (June 23, 2026) and AMD at $551.63 (June 22, 2026). Looking ahead, upcoming catalysts such as the U.S. Initial Jobless Claims and the Philadelphia Fed Manufacturing Index will be critical in determining if the NASDAQ can find a floor or if the bearish momentum in semiconductors will persist.