Nasdaq 100 Falls 0.5%, Semiconductor Index Drops Over 2.3%

The significance here is the leadership of the selloff: semiconductors falling more than twice as hard as the Nasdaq 100 points to chip-specific pressure rather than an even de-risking across tech, and the S&P 500 giving back its gains suggests the weakness is bleeding beyond one sector. That matters most for anyone with concentrated exposure to chip names, where the index-level move understates the drawdown. Whether the semiconductor index keeps outpacing the broader market to the downside, or the gap narrows as the S&P stabilizes, is the open question worth watching.