Tech giants weaken, dragging the Nasdaq down over 1%; semiconductor index defies the trend, rising about 2% to hit a record high

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BlockBeats News, June 23 — U.S. stocks generally came under pressure on Monday, with tech giants weakening and overshadowing the optimism brought by progress in U.S.-Iran talks, with the Nasdaq closing down over 1.3%. The technology sector faced selling pressure concentrated on major tech companies, as Google DeepMind Vice President and 2024 Nobel Prize in Chemistry laureate John Jumper announced a job change to Anthropic, sparking market concerns over Google AI talent loss. Alphabet led the decline, dropping about 5% in a single day. SpaceX’s stock price fell over 16%, hitting a new low since its listing.

The semiconductor index rose about 2 against the trend, reaching a new all-time high. Among them, Lam Research (LRCX) rose 5.27%, Intel (INTC) increased 5.19%, Applied Materials (AMAT) gained 3.74%, and KLA Corporation (KLAC) rose 3.70%. The storage sector mostly advanced, with Micron Technology (MU) up 6.82%, SanDisk (SNDK) up 4.07%, and Seagate Technology (STX) up 2.22%.

Optical communication concept stocks all gained, with Credo (CRDO) up 11.29%, Coherent (COHR) up 9.22%, Corning (GLW) up 7.65%, Ciena (CIEN) up 7.50%, Nokia (NOK) up 6.97%, Applied Optoelectronics (AAOI) up 5.80%, and Astera Labs (ALAB) up 5.42%.

NAS100-0.57%
GOOGLX-4.43%
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