Nasdaq 100 drops 4% as Intel plunges 31%

The breadth of the selloff matters more than the headline index move: losses are concentrated in semiconductors and AI-adjacent infrastructure names, from Intel and AMD to CoreWeave and Nebius, rather than spread evenly across the index. That pattern points to a repricing of the compute and chip trade specifically, not a broad macro de-risking. Whether this stays a sector-level reset or broadens into other parts of the index is the open question worth watching.