Carmen Reinicke and Ryan VlastelicaJul 29, 2026 – 2.50amThe Nasdaq 100 Index is trading near a correction Tuesday (Wednesday AEST) as the sell-off in semiconductor stocks turns ugly with investors questioning the amount of money Big Tech is spending on artificial intelligence.“The AI trade is being looked at with a much greater degree of scepticism, and the shift in sentiment means it has become something of a one-way trade with things getting sold unmercifully,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott.BloombergSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Nasdaq 100 nears a correction as semiconductor sell-off extends
The tech-heavy Nasdaq 100 is down roughly 9 per cent from the record it set on June 2, just shy of the 10 per cent technical threshold for a correction.
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