Story perspectives

AI Chip Selloff Sends Nasdaq 2.2% Lower, Nvidia Sub $5T

6/25/2026

Summary

NVIDIA Slides

Markets fell on June 23, 2026 as AI-related chip stocks sold off, with the Nasdaq down 2.2%, the S&P 500 down 1.4%, and the Dow up 0.02%.
NVIDIA fell about 4%, pushing its market capitalization below $5 trillion.
Micron Technology plunged 13.2% and said its third-quarter results will be released on June 24.
Traders priced in a 75-basis-point Federal Reserve (Fed) rate increase this year, with an 88% chance of a hike by Dec 2026.

Summary

SpaceX Bond Issue

SpaceX may raise $20 billion in investment-grade bonds despite holding roughly $100.8 billion in cash.
In South Korea, where retail investors drive 50%-70% of daily trading, unwinding leveraged positions triggered deep selling of ETFs tracking Samsung and SK Hynix.
The forced unwinding and ETF outflows show how risk-hungry retail trading amplified Korean market volatility.
Micron’s earnings, due after the June 24 close, are expected to become a focal point for AI-related chip demand.

History

Historical Context

The Nasdaq Composite peaked at 5,048.62 on March 10 2000 before falling 78% by October 2002, erasing about $5 trillion in value during the dot-com crash. That collapse of over-leveraged tech stocks set a precedent for later cycles. In June 2026, AI-chip leaders NVIDIA and Micron saw sharp declines, echoing the earlier global market-wide broader correction.

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NVIDIA Slides

Markets fell on June 23, 2026 as AI-related chip stocks sold off, with the Nasdaq down 2.2%, the S&P 500 down 1.4%, and the Dow up 0.02%.
NVIDIA fell about 4%, pushing its market capitalization below $5 trillion.
Micron Technology plunged 13.2% and said its third-quarter results will be released on June 24.
Traders priced in a 75-basis-point Federal Reserve (Fed) rate increase this year, with an 88% chance of a hike by Dec 2026.

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