Nasdaq Plunges as Nvidia, Micron and Memory Chip Stocks Collapse

U.S. stock markets endured one of their most painful sessions in recent weeks, with the Nasdaq composite tumbling under the weight of a sweeping selloff in semiconductor names. Nvidia, Micron, Sandisk, and South Korea's SK Hynix were among the hardest hit, with some stocks shedding double-digit percentages. Analysts attributed the move to profit-taking after a prolonged AI-driven rally that had pushed chip valuations to historically elevated levels. Additional headwinds came from concerns about excess memory inventory in the market and questions about whether corporate AI spending can sustain its current pace. The broader S&P 500 also fell, though the damage was concentrated in the chip sector. The session served as a reminder of the extreme volatility that tends to accompany technology stocks at the height of a market cycle.