CHIPMAKER SELLOFF PUSHES NASDAQ 100 TOWARD CORRECTION

A broad chipmaker decline has triggered losses across the Nasdaq 100, with the index nearing a 10% drop from recent highs. The selloff reflects growing investor anxiety over China's chip sector progress. Recent developments in Beijing's semiconductor capabilities have sparked questions about the pace of technological advancement in the region. Analysts point to signs that China may be closing the gap with Western chipmakers faster than initially anticipated. The market reaction underscores sensitivity around semiconductor supply chains and geopolitical competition in critical technology sectors. Chipmakers have become focal points for investors tracking both technological innovation and international trade dynamics. The decline weighs on a sector that has driven much of the recent market rally. Any sustained weakness in chip stocks could amplify broader market volatility as investors reassess valuations across the technology space.