Nasdaq 100 Erases Over $1 Trillion in Five Hours as Chip Stocks Plunge

The Nasdaq 100 suffered a sharp intraday reversal, reportedly losing more than $1 trillion in market value within five hours as selling intensified across semiconductor and technology stocks.
The index swung from a 1.3% morning gain to a 1.3% decline, a reversal of 2.6 percentage points.
Marvell $MRVL led the reported losses, falling 13%, followed by Intel $INTC at 8.9%, Seagate $STX at 8.1%, AMD $AMD and Western Digital $WDC at 7.4% each. Micron $MU declined 5.6%, while Nvidia $NVDA slipped 1.2%.
The selloff extended beyond chipmakers, with Microsoft $MSFT down 2.9% and Apple $AAPL falling 1.8%. Amazon $AMZN remained an exception, gaining 2.1%.
The reversal highlights mounting pressure on technology valuations, particularly among companies exposed to the AI infrastructure investment cycle. The reported losses reflect an intraday snapshot rather than final closing prices.