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Nasdaq 100 Falls as China Chip Concerns Weigh on AI Stocks
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
The Nasdaq 100 moved lower as investors took profits following a strong rally and concerns grew over China’s semiconductor industry. Sentiment weakened after CXMT’s Shanghai IPO surged, raising fears of increased competition in memory chips and pressure on companies such as Micron, Samsung, and SK Hynix. At the same time, technical indicators signalled fading momentum after the index reached overbought levels, with investors now watching whether support near 26,000 can hold.
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