Nasdaq Slides as Semiconductor Selloff Intensifies

Intel, Applied Materials, Corning, and Advanced Micro Devices lead the sector’s decline. Market sentiment soured further after China’s Moonshot AI released a new model claiming performance parity with top-tier U.S. systems. Netflix shares dropped 11% as investors reacted to the streamer’s warning of decelerated growth in the third quarter. The S&P 500 and Dow Jones Industrial Average followed the Nasdaq’s downward trend, each shedding approximately 1%.

Global markets mirrored this instability. Benchmark indexes in Taiwan and Japan plummeted 6.5% and 4%, respectively, while South Korea’s Kospi remained closed for a holiday. Amid the equity selloff, Brent crude futures rose above $86 a barrel, driven by persistent geopolitical friction between the United States and Iran.