Tech Rout Deepens: S&P 500 Falls, AMD Plunges 16% on Weak Forecast

• US stocks declined on Wednesday, with the S&P 500 Index falling 0.4% and the Nasdaq 100 Index dropping 1.5%.
• Advanced Micro Devices Inc. (AMD) shares plunged 16% after its first-quarter forecast missed analyst expectations.
• CEO Lisa Su noted increasing demand and faster-than-anticipated AI adoption, but investors were not swayed after the stock doubled in 12 months.
• Other semiconductor stocks like Broadcom (-5%) and Micron Technology (-9%) also suffered, contributing to a broader tech selloff.
• Software companies like Oracle (-4%) and CrowdStrike (-1%) faced pressure amid concerns over AI-fueled disruption, while Microsoft rose nearly 1%.