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Nasdaq 100 falls 4 percent as chip stocks tumble, Jesse Cohen notes
Jesse Cohen, senior markets analyst at Investing.com, highlights a significant drop in the tech-heavy Nasdaq 100, with the index falling 4 percent. This marks the steepest decline in more than a year, attributed to widespread losses in chip stocks.
Cohen has recently pointed to declines in individual stocks, recalling that Rivian’s market cap fell from $150 billion to $20 billion. In a separate note, he highlighted that Korea’s KOSPI index rose 2.2 percent to a record high amid gains in AI and chip stocks. These observations come as chip-related losses weigh heavily on the Nasdaq 100.
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