S&P 500 Falls 0.6% as Nasdaq 100 Drops 1.1%; Philadelphia Semiconductor Index Slides 2.6%

Sep 10, 2026 16:00 ET · 57m ago · 1

TREE NEWS reports: The S&P 500 closed down 0.6%, with materials off 1.5%, tech 0.9%, energy 0.4% and telecom 0.2%. The Nasdaq 100 fell 1.1%, dragged by Baker Hughes down 6.8%, CoreWeave down 6.1%, and Lam Research, Intel, Lumentum, Astera Labs, Nebius Group and Micron each down at least 4.7%. The Philadelphia Semiconductor Index dropped 2.6% and the storage-chip index fell 4.2%.

Original source

AI take

The telling detail here is the concentration of losses in semiconductors and storage chips rather than the broad index move, which was modest. That points to a sector-specific repricing in the AI infrastructure complex — CoreWeave, Astera Labs, Nebius and Micron sitting alongside equipment names like Lam Research — rather than a general risk-off session. Materials leading declines while energy and telecom barely moved suggests rotation, not exit. The open question is whether this is a one-day de-rating of AI-linked hardware or the start of a sustained unwind in that trade.

Generated by AI for reference only.

Related News

8m ago Houthis Deploy Forces on Red Sea’s Hanish Islands After Yemeni Navy Withdraws 10m ago Mexico’s Sheinbaum tells US: Don’t use Mexico in midterm elections 11m ago Goldman Sachs Tests Demand for Meta-Linked Data Center Bonds 14m ago Brent Tops $106, Rate-Hike Odds Hit 64% as Crypto Sells Off 27m ago MSCI Emerging Market FX Index Posts Biggest One-Day Drop Since July 33m ago North American Tech Software ETF Falls 0.62%; Cybersecurity ETFs Also Decline

Pitch us Feedback