Nasdaq-100 drops 3% as ten large-cap tech stocks lead the sell-off

Price Action Impact 4

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Summary · why it matters

The Nasdaq-100 fell about 3% in midday trading as an early rally faded and selling pressure intensified across major technology names. Ten large-cap stocks accounted for the bulk of the index's downside, led by Sandisk Corporation down 12.7%, Micron Technology down 11.4%, and QUALCOMM down 10.2%. Other significant decliners included Lam Research off 10.1%, KLA Corporation off 9.9%, Teradyne off 9.8%, Western Digital off 9.5%, Applied Materials off 9.2%, Astera Labs off 9.1%, and Arm Holdings off 8.9%. The broader Nasdaq Composite was down roughly 2%.