Nasdaq futures fall 1.4% in Asia-Pacific trading; Intel plunges 21.6% after hours

The breadth of the after-hours moves—semiconductors, cloud-adjacent names and memory makers all sliding alongside Intel's outsized drop—points to a sector-wide repricing rather than a single-company story. Intel's plunge is the headline, but AMD, Qualcomm and SK Hynix ADRs moving in the same direction suggests investors are reading it as a signal about the broader chip complex. Whether that correlation holds into the US session, or whether Intel's move stays idiosyncratic, is the open question worth watching.