Semiconductor and storage manufacturers on the Wall Street have whiplashed into the red territory after a plethora of fears struck them all at once on Tuesday after a strong rally in the previous session.
Micron Technology Inc., Nvidia Corp., Advanced Micro Devices Inc., Sandisk Corp. and Intel Corp. plunged up to 11% after reports indicated that a major chinese rival DeepSeek is manufacturing its own AI chips.
Besides that, investors grew more wary of whether the AI boom would be able to justify capex allocated to data centre buildouts and sky-high valuations after Samsung's solid earnings failed to excite them.
Separately, Elon Musk's SpaceX, which was included in the Nasdaq 100 index today, failed to excite traders and fell 4% to $154.32 within minutes of the opening bell.
(This story will be updated shortly)
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