US stocks slide as chipmakers and AI infrastructure names retreat; Nasdaq 100 drops 1.09%
AI Market Summary
US equities fell as chipmakers and AI infrastructure names retraced after a sharp rally, pulling the Nasdaq 100 lower. Softer June ADP payrolls reinforced labor-market cooling, while Fed Chair Waller offered no new rate guidance, leaving policy uncertainty intact amid still-elevated yields. Meta's surge on plans to sell AI compute highlights growing dispersion within the AI complex, pressuring semis and cloud-adjacent infrastructure stocks.
Impact level
● High
Affected assets
NCSINASDAQ1002USD/USDT-1.34%
AI Insight · NCSINASDAQ1002USD/USDTAI Insight
▼ Bearish
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US stocks weakened after the June ADP employment change rose by +98,000, below expectations of +120,000. Chipmakers and AI infrastructure shares led declines, with ARM down more than 4%, Intel more than 3%, Micron more than 5%, and SanDisk more than 7%. Markets also stayed under pressure after Fed Chair Warsh offered no guidance on the interest-rate outlook at a meeting of central bankers in Portugal. Meta rose more than +7% after saying it is developing plans for a cloud infrastructure business to sell access to AI computing power and models.
