US equity markets retreated on Thursday, with the Nasdaq Composite and S&P 500 posting losses as broad-based selling in large-cap technology shares outweighed positive catalysts from the semiconductor sector.
Despite upbeat guidance from Micron and Qualcomm, which provided a temporary lift to their respective shares, the broader tech complex struggled to hold ground.
3% as investors moved away from high-growth tech valuations.
The Nasdaq reversed an initial upward move in early trading, signaling persistent weakness among high-growth names.
The market move reflects a continuation of the rotation out of artificial intelligence and semiconductor stocks that weighed on indices the previous session.
On Wednesday, the Nasdaq fell 1.3% as investors moved away from high-growth tech valuations.
Thursday’s volatility underscores the fragility of the recent rally, with the tech-heavy index unable to sustain early gains amid renewed risk-off sentiment.