Intel Plunges Over 6% as Nasdaq Slides 2.21% in Chip Sell-Off
INTC•Intel shares dropped over 6% on June 23 as the Nasdaq declined 2.21% in a broad semiconductor-led sell-off driven by higher interest rate expectations and concerns about AI investment spending. South Korea’s KOSPI plunged nearly 10%, with Samsung Electronics and SK Hynix each down over 12%.
1. Broad Sell-Off Across Tech Stocks
On June 23, global tech stocks fell dramatically, led by a 2.21% drop in the Nasdaq. Memory specialists SanDisk and Micron each slid more than 13%, while Nvidia shares declined over 4%.
2. Intel’s Stock Impact
Intel shares fell over 6% as investor concerns over rising borrowing costs and AI spending tempered enthusiasm for chipmakers. This decline marked one of Intel’s steepest single-day drops this year.
3. Global Market Reactions
South Korea’s KOSPI plunged nearly 10%, with Samsung Electronics and SK Hynix down over 12%, triggering a trading halt. European benchmarks including the FTSE 250, DAX and CAC 40 also registered losses.
4. Macro Drivers
Signals of higher interest rates and worries about the pace of AI investment undermined market optimism that had propelled tech valuations to record levels.
