Nasdaq Drops 2.36% as AI-Linked Shares Lead a Broad Equity Selloff

A sharp drop in the Nasdaq put U.S. risk assets under pressure, including crypto, as AI-linked stocks fell across hardware and software in a broad equity retreat.

The Nasdaq Composite was down 2.36%, while the S&P 500 fell 1.19% and the Dow Jones Industrial Average declined 0.58%. Among large technology companies, Oracle lost 4.42%, Tesla fell 2.97%, Alphabet dropped 2.27% and Nvidia slipped 0.95%.

Some AI hardware-linked shares had larger declines. AAOI fell 7.89%, Coherent (COHR) dropped 6.26% and LITE lost 3.87%. Storage-related tickers also moved lower: SKHY fell 6.13%, STX declined 5.97%, SNDK fell 5.3%, WDC lost 5.16% and MU dropped 4.33%.

MRVL fell 4.2%, SPCX declined 2.24% and NOK slipped 2.51%. Losses in optical and storage names exceeded Nvidia’s 0.95% drop, while Oracle and Tesla also fell by more than 2%.