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Global Markets Selloff: AI and Chip Stocks Lead
Global markets experienced their worst day since April 2025 on Thursday, with sharp losses in AI and chip stocks. Micron and AMD fell 17% each, Nvidia dropped 9%, and the Magnificent Seven lost more than $1 trillion in market value. U.S. futures were mixed as investors await the October jobs report. European markets also fell before recovering, with ASML, ASMI, Airbnb, and Akamai reporting earnings. Oil prices rebounded due to renewed tanker attacks in the Middle East. Asian markets saw the biggest losses, with South Korea’s Kospi down over 6%, while Japan and Taiwan also fell sharply.