Nasdaq falls 1% as chip stocks tumble and inflation rises

Business Oct 15, 2026

The Nasdaq declined 1% on Monday, August 24, mostly because chip stocks took a hit and inflation numbers came in higher than expected.

While the S&P 500 also slipped, the Dow Jones managed a small gain.

All this has investors wondering if the Federal Reserve might change its approach soon.

Chipmakers including Micron AMD Sandisk slide

Semiconductor companies were at the center of this drop: Micron fell 4%, AMD lost 5%, and Sandisk slid by 6%.

SK Hynix's US shares dropped too, after South Korea's Kospi index tumbled overnight.

Even CoreWeave, an AI infrastructure firm, saw its stock fall as investors worried about its borrowing requirements to fund its AI expansion.

Revenue reports from Anthropic added to the uncertainty around how much these AI-focused chipmakers are really worth right now.