Tech stocks continued their slide Tuesday, with the Nasdaq Composite Index down 475 points, or nearly 2%, as of 9:45 a.m. ET, after dropping 1.3% on Monday. The sell-off gathered steam overnight as South Korea's Kospi index tumbled 10%, triggering a 20-minute trading halt, driven by 12% declines in Samsung and SK Hynix. Major chipmakers were broadly lower, with Micron Technology falling more than 11%, Sandisk down 12%, Qualcomm down more than 8%, Seagate off nearly 8%, Intel falling 6%, and Nvidia slipping 3%. Analysts said they are not concerned about a bubble burst, with BNP Paribas Asset Management's chief market strategist noting the Nasdaq's P/E ratio is 23, far below the 48 times seen before the dot-com bubble burst in March 2000.
SK Hynix Inc
ASML Holding N.V.
Intel Corporation
Micron Technology Inc
Qualcomm Incorporated
Sandisk Corp
Samsung Electronics Co Ltd
NVIDIA Corporation
Seagate Technology PLC