TREE NEWS reports: The Nasdaq 100 fell 1.4% at the U.S. open while the Nasdaq Golden Dragon China Index rose 2.5% to 5,871.98. AI hardware stocks dropped sharply, with Qualcomm down 14% at the open in what could be its biggest one-day decline since 2020, and SanDisk, AMD, Seagate, Western Digital, Micron and SK Hynix falling as much as about 7.2%. Apple rose 1.4% after entering the investment-grade bond market for the first time in over a year, while Microsoft slipped 0.4% after cancelling Nscale orders.
Nasdaq 100 Falls 1.4% at Open as AI Hardware Stocks Slump; China ADRs Rise 2.5%
AI take
The split is the story: a broad AI hardware selloff is dragging the index while China ADRs move the other way, suggesting the pressure is concentrated in the semiconductor complex rather than risk appetite overall. Qualcomm's outsized drop stands apart from the wider cluster of declines, which points to a stock-specific catalyst layered on top of sector weakness. Apple's bond-market return and Microsoft's cancelled orders add a capital-allocation wrinkle to an otherwise hardware-led session. Whether the China ADR strength holds independently of the AI trade is the open question.
Generated by AI for reference only.
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