BUSINESSWPLG LOCAL 10 MIAMI
Sharp drops in Big Tech companies pull the Nasdaq down 2.2% in early trading
The Nasdaq composite dropped 2.2% in early trading due to sharp declines in Big Tech companies, driven by concerns over potential interest rate hikes and their impact on economic growth. Micron Technology fell 12%, SpaceX slipped further after a week-long decline, and chipmakers like Qualcomm and Intel saw significant losses.
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- Asian shares drop, with South Korea’s Kospi down more than 5%
- Qualcomm drops 13% as chip stocks pull back from record AI-driven rally
- Wall Street drops as AI stocks slide sharply again
- Asian shares drop, with South Korea’s Kospi down more than 5%
- World shares mostly decline, with South Korea's Kospi down more than 5%