Nasdaq 100 Falls
The Nasdaq 100 falls 0.6% as a chip rout and AI-infrastructure unwind drag US equities into mixed territory
S. equities into mixed territory Friday, sending the tech-heavy Nasdaq 100 lower while a value-oriented Dow Jones clung to gains near record highs. Investors continued to question whether the industry’s massive AI spending can justify its lofty valuations. S.
benchmark down nearly 23% for the month. This marks the worst monthly performance since March 2020 as traders look past the Hormuz headlines toward signs OPEC is restoring Iraq’s pre-war production allocations. 1% to near 51,982, supported by strength in software and other non-AI names. 6% to about 29,253 as the AI trade wobbled.
3% to around $4,081 an ounce, clawing back some ground despite remaining down roughly 8% for the month. 1%. 1%. 6%.
1%. Semiconductors Crater As Money Rotates Into Defensives Technology was the clear laggard, with the chip rout deepening across the complex. 4%, the worst-performing industry fund on the screen. 6%.
The epicenter of the selling was ON Semiconductor Corp. (NASDAQ: ON ), which cratered 21% after agreeing to acquire Synaptics Inc. (NASDAQ: SYNA ) in an all-stock deal valued at roughly $7 billion. The damage spread across chip and AI-hardware names, extending pressure that has built since Broadcom’s recent AI-revenue guidance disappointed.
Optical and AI-networking suppliers Lumentum Holdings Inc. (NASDAQ: LITE ) and Corning Inc. 8%, respectively, dragged lower in sympathy with the AI-infrastructure unwind. Memory names also stayed under pressure, with Micron Technology Inc.
(NASDAQ: MU ) reversing part of Thursday’s earnings-driven surge as worries built that AI infrastructure spending could slow. Western Digital Corp. 3%. Health care led the rebound, powered by Moderna Inc.
8% – the day’s biggest gainer – after its annual Science Day presentation detailed a broadening pipeline of mRNA therapies extending well beyond vaccines into oncology and rare diseases. AST SpaceMobile Inc. 7% amid continued optimism around its Japan regulatory clearance and an upcoming satellite launch, with no single new headline confirmed for the session. Friday’s Russell 1000 Top Gainers Name % change Moderna Inc.
8% ManpowerGroup Inc. 2% AST SpaceMobile Inc. 7% FactSet Research Systems Inc. 7% Morningstar Inc.
1% Friday’s Russell 1000 Top Losers Name % change ON Semiconductor Corp. 0% Western Digital Corp. 3% Entegris Inc. 2% Lumentum Holdings Inc.
4% Corning Inc. 8% Image: Shutterstock