WS #10576
Semiconductor rout deepens with Philadelphia Semiconductor Index down 7.9%, KOSPI plunges 9.99%, Nasdaq falls 2.2%, and Bitcoin drops toward $62,000 as AI capex fatigue and hedge fund unwinding drive broad risk-off. Alphabet (GOOGL) will join the Dow Jones Industrial Average, replacing Verizon, effective June 29, further expanding mega-cap tech presence.
Global Tech Selloff / AI Bubble Fears
Semiconductor rout deepens with Philadelphia Semiconductor Index down 7.9%, KOSPI plunges 9.99%, Nasdaq falls 2.2%, and Bitcoin drops toward $62,000 as AI capex fatigue and hedge fund unwinding drive broad risk-off.
Alphabet (GOOGL) will join the Dow Jones Industrial Average, replacing Verizon, effective June 29, further expanding mega-cap tech presence.