How much did the Nasdaq drop?

The Nasdaq Composite fell over 2%, its biggest drop in two weeks.

Were other indices affected besides the Nasdaq?

Yes, the S&P 500 fell 1.2% and the Dow dropped 0.5%, with technology being the worst-hit sector.

Which chip stocks fell the most?

Marvell dropped 5.2%, NVIDIA fell 4.5%, Micron declined 4.1%, and IBM slid 3.8%.

Nasdaq Posts Sharpest Drop in 2 Weeks as Chip Stocks Slide

The Nasdaq Composite recorded its steepest decline in two weeks, driven by a broad sell-off in semiconductor stocks. Losses were led by NVIDIA, IBM, Marvell, and Micron.

June 23, 2026

2 min read

Source: MT Newswires

The Nasdaq Composite fell the most in over two weeks, as chip stocks tumbled. The index closed down more than 2%, weighed by investor concerns over slowing demand for semiconductors.

Reasons for the Decline

Chip stocks led the sell-off, with NVIDIA (NVDA) dropping 4.5%, IBM (IBM) falling 3.8%, Marvell (MRVL) declining 5.2%, and Micron (MU) sliding 4.1%. No single catalyst was identified, but analysts pointed to fears of market saturation and slowing data center spending.

Sector Performance

The decline follows weeks of strong gains in the tech sector, leaving stocks vulnerable to profit-taking. Uncertainty over Federal Reserve policy and interest rate hikes also dampened risk appetite.

Similar Moves

The sell-off was not limited to the Nasdaq; the S&P 500 fell 1.2% and the Dow Jones dropped 0.5%. Technology was the worst-performing sector.

What This Means for Investors

The move highlights the fragility of the tech sector after recent gains. Investors should monitor upcoming earnings reports from chip companies to gauge demand sustainability.

Frequently Asked Questions

The index fell due to a sharp decline in chip stocks like NVIDIA and IBM, amid concerns over slowing semiconductor demand.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.