Global Chip Selloff, SpaceX Slump Hit Nasdaq

A person looks at television screens displaying economic news at the NASDAQ MarketSite in Times Square, New York City, on April 9, 2025. Angela Weiss/ AFPA U.S. and global memory-chip stock sell-off, and SpaceX dropping below its debut price, triggered a global market rout on June 23, sending leading benchmark averages sharply lower.The tech-driven Nasdaq Composite Index declined 400 points, or more than 1 percent, paring its year-to-date gains to below 13 percent. It declined as much as 900 points at the opening bell.