Chip Stocks Lead Declines as All Four Major U.S. Indexes Fall
Weighed by weaker-than-expected guidance from tech giants and concerns over returns on massive artificial intelligence capital spending, U.S. stocks extended losses in intraday trading on the 30th. The Philadelphia Semiconductor Index fell 878.42 points intraday, down 7.63% to 10639.78 points, becoming the hardest-hit area. The Nasdaq Composite fell 707.25 points or 2.70% to 25477.48 points. The S&P 500 fell 128.22 points or 1.66% to 7592.17 points. The Dow Jones Industrial Average fell 395.14 points or 0.75% to 51947.42 points.
Disappointing Intel Guidance Drags Down Tech Heavyweights
The core of this sell-off was weakening outlooks from chip and cloud giants. Intel fell 27.72 dollars to 64.35 dollars intraday on a fourth-quarter profit outlook far below expectations, down 30.11%. Artificial intelligence bellwether Nvidia fell 8.70 dollars to 204.97 dollars, down 4.07%. Cloud computing provider CoreWeave fell 10.07% to 54.63 dollars. TSMC ADR weakened in tandem, falling 25.14 dollars to 406.67 dollars, down 5.82%. Large-cap tech stocks were also under pressure, with Microsoft down 1.72% to 521 dollars, Amazon down 1.96% to 239.02 dollars, Apple down 0.60% to 346.8 dollars, and Alphabet down 0.78% to 281.62 dollars.
Funds Rotate Into Defensives as Taiwan Index Futures Break Down in Night Trading
While tech stocks weakened across the board, utilities and traditional defensive groups drew safe-haven buying. Verizon Communications rose 3.15% to 45.04 dollars, and Johnson & Johnson rose 0.23% to 275.82 dollars, showing a rotation of funds into defensive sectors. Dragged by international semiconductor selling pressure, Taiwan index futures saw panic selling in night trading, falling 657 points or 1.45% intraday to 44643 points, breaking below the 45000-point mark and dipping as low as 44601 points, increasing short-term technical pressure. The above figures are all intraday updates before press time, with actual quotes subject to market announcements.