Chip selloff hits tech as money rotates into steady earners

Nasdaq 100 fell 0.98% to 29,024 on a memory-chip rout led by Nvidia's seventh straight drop, while six of eleven S&P 500 sectors rose and the Dow gained 0.26%

Deepakshi

Kristal Research & Marketing team

25 Aug

Key takeaways — AI summary

US indices split three ways Monday: the Dow rose 0.26% to 53,417, the S&P 500 slipped 0.28% to 7,653, and the Nasdaq 100 fell 0.98% to 29,024, with the equal-weight S&P 500 flat and six of eleven sectors green.
Technology was the worst sector, down 1.59%; Nvidia fell 2.9% for its seventh straight decline (longest since September 2022) and Micron dropped 5.9%, while Consumer Staples rose 1.76% and Financials gained 1.24%.
The memory selloff spread to Asia: South Korea's KOSPI fell 3.08%, Samsung Electronics lost 3.79% and SK Hynix fell 4.97%, traced to Samsung's shareholder return plan.
The US Treasury launched 'Operation Economic Outcast,' sanctioning nearly 60 Iran-linked entities; WTI crude still settled $2.05 lower at $85.01, and the 10-year Treasury yield fell to 4.70% while the 30-year eased to 5.23%.
Trump confirmed 50% tariffs on Canadian cars, parts and steel from January 1, 2027, with Canada's retaliation beginning September 8; the document frames the day as a rotation, not a broad retreat.

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