Semiconductor Gauge Sinks 5.9% as AI Slowdown Calls and $105 Oil Hit Stocks
Updated
Updated · Bloomberg · Sep 17
Semiconductor Gauge Sinks 5.9% as AI Slowdown Calls and $105 Oil Hit Stocks
3 articles · Updated · Bloomberg · Sep 17
Summary
Chipmakers led a broad market retreat, with Nvidia and Broadcom driving a 5.9% drop in the semiconductor gauge and pulling the Nasdaq 100 down 0.8%.
AI sentiment weakened after leaders of major artificial-intelligence companies proposed slowing the technology’s development, undercutting one of the market’s strongest growth trades.
Brent crude topped $105, adding to inflation worries ahead of the Federal Reserve decision, while the 10-year Treasury yield held near 5%.
Bank of America also weighed on risk appetite after CEO Brian Moynihan warned on trading revenue, extending losses into financial shares beyond the tech selloff.