Tech Stocks Hit, Yields Plunge As AI Trade Fizzles: NetApp, Amgen, Nasdaq In Focus

A sharp AI/semiconductor sell-off drove a 2.6% Nasdaq drop even as defensive sectors and select tech names like NetApp held up.

• Nasdaq plunges 2.6%: Nasdaq composite fell to ~26,000, breaking below its low from four sessions prior, driven by a sharp sell-off in semiconductor and AI stocks.
• Chip stocks hammered: SMH semiconductor ETF dropped 5-6% nearing its 200-day line; AMD broke below recent lows on heaviest down-day volume in months; Max Linear gapped down ~14%.

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