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Nasdaq and Semiconductor Stocks Plunge Amid Growing Market Fears
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CNBC TV18•17-10-2026, 07:16
Nasdaq and Semiconductor Stocks Plunge Amid Growing Market Fears
- •Wall Street benchmarks closed lower on Friday, with the tech-heavy Nasdaq declining 2.1 percent and the Nasdaq 100 dropping 2.5 percent.
- •The VanEck Semiconductor ETF suffered its worst week in 18 months, falling 10 percent due to fears of Chinese competition and high debt burdens.
- •Chipmakers experienced an eighth consecutive day of losses, marking their longest losing streak since 2008.
- •CoreWeave dropped 11 percent on Friday, pushing its weekly loss to 25 percent amid mounting debt concerns reaching 51 billion dollars.
- •The Cboe Volatility Index surged past 22 for the first time since June, driven by tech sell-offs and rising crude oil prices hitting 110 dollars a barrel.
Key Questions Answered
Investor exits from AI and semiconductor-linked stocks, fears of competition from China, and struggles over debt repayments for companies building massive data centers dragged down the VanEck Semiconductor ETF.
The Dow Jones fell 175 points but posted a weekly advance of 0.7%, while the S&P 500 declined 1.1% and the Nasdaq Composite dropped 2.1%.
Crude oil prices surged as Brent jumped to $110 a barrel overnight due to escalating Iranian attacks in the Strait of Hormuz and ongoing attacks on energy infrastructure between Ukraine and Russia.
