Nasdaq Plunges 350 Points, Chipmakers Lead Sell-Off; Dow Jones Gains

• Nasdaq dropped another 350 points (1.5%) on Wednesday, bringing its two-day total fall to nearly 700 points, while the S&P 500 also declined by 0.5%.
• Chipmaking companies, particularly AMD, led the market downturn; AMD shares plummeted 17% after disappointing guidance, its largest single-session fall since 2017.
• Other major chipmakers like Nvidia (down 3.5%) and Broadcom (down nearly 4%) also saw significant losses, along with big tech names like Alphabet, Amazon, and Meta.
• Dow Jones outperformed for the second consecutive day, rising 260 points, supported by strong performances from stocks like Amgen (up over 8%) and Honeywell.
• US Dollar strengthened, Gold prices hovered around $5,000 an ounce, and Bitcoin fell to test $72,000, with predictions of further decline.