Chip Crisis Deepens: Nasdaq Slips Amid Market Volatility

Whipsaw moves in the chip sector continue to dominate early trading, with steep declines in SK Hynix and Samsung sending South Korea's Kospi index down over 6%, and AI stocks sliding in the U.S. Taiwan Semiconductor Manufacturing reported its fifth consecutive quarter of record earnings, yet the market sentiment remained subdued. The Nasdaq slipped 0.5%, with Sandisk, Western Digital, and Micron among the worst performers. These moves reflect a choppy stretch for the sector, compounded by broader market concerns—earnings season, rising tensions between Washington and Tehran, and rising oil prices. Additionally, data released this morning showed retail sales cooled last month, while Netflix's earnings report is due after the closing bell.