US August PPI tops forecasts; Nasdaq falls 1% as chip and optical stocks slide

The outsized pressure on memory and optical names relative to the broader indices suggests a rate-sensitive, high-multiple pocket of the market absorbing the hotter inflation print, rather than a broad risk-off move. For crypto and RWA markets, the read-through is indirect: persistent input-price pressure keeps the macro backdrop for risk assets uncomfortable, with tech leadership as the transmission channel. Whether semiconductors and optical names stabilize or lead further downside is the open question for gauging whether this is a one-day repricing or the start of a deeper de-rating.