A deepening global selloff in chipmakers dragged risk assets lower, pulling bitcoin back from the $65,000 level it reached on this week's soft inflation print.

The Nasdaq Composite fell 2.21% as semiconductor stocks cratered, dragging Bitcoin below $63K and ether down over 4% in a broad risk-off selloff.

US semiconductor stocks lost over $1 trillion in market value as Nvidia, Micron, and Broadcom led a sharp selloff. Bitcoin held steady amid the turmoil.