AI Stocks Tumble, Nvidia Hits 3-Month Lows: What's Moving Markets Wednesday?

Investors rushed to dump tech and AI-linked stocks on Wednesday, fueling a broad sector selloff reminiscent of the red days in October and November, when traders fretted over the risk of an AI bubble.

By midday trading in New York, the Nasdaq 100 slid 1.3%, while the iShares Semiconductor ETF (NYSE:SOXX) sank nearly 3%, marking its fourth consecutive session of losses.

Chipmakers have now fallen 9% over the past four days, the sector's worst stretch since the tariff-driven selloff in April.

Nvidia Corp. (NASDAQ:NVDA) dropped more than 4%, posting its steepest decline in two months and sinking to its lowest level since mid-September.

GE Vernova Inc. (NASDAQ:GEV) and Constellation Energy Inc. (NYSE:CEG) bore the brunt of Wednesday's selloff, both sliding over 7%, respectively, as investors continued to unwind exposure to power and AI-adjacent names.

Shares of CoreWeave Inc. (NASDAQ:CRWV) fell for a sixth straight session, tumbling more than 6% to their lowest level since mid-May. Investors have grown increasingly concerned that companies with overloaded order backlogs could struggle to meet demand amid capacity constraints.

Oracle Corp. (NYSE:ORCL) slid 5%, extending its drawdown from October's all-time highs to nearly 50%.

Alphabet Inc. (NASDAQ:GOOGL), the top-performing stock among the Magnificent Seven this year, also came under pressure, dropping more than 2.3% and heading for a fifth consecutive session of losses.

Away from equities, silver's relentless rally powered ahead, with the metal surging more than 4% to $66.50 an ounce, lifting its year-to-date gain to an eye-popping 130%. Gold rose 0.7% to $4,330, inching closer to a retest of its October record high near $4,350.

Oil prices attempted a rebound, climbing 1% to $56, after hitting their lowest levels in nearly five years on Tuesday.

Risk appetite also remained fragile in crypto markets, with Bitcoin (CRYPTO: BTC) down 1.2%.

Wednesday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) slipped 0.8% to $619.34.
• The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) eased 0.2% to $480.86.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) dropped 1.3% to $603.49.
• The iShares Russell 2000 ETF (NYSE:IWM) fell 0.5% to $248.53.
• The Technology Select Sector SPDR Fund (NYSE:XLK) lagged, down 1.7%; the Energy Select Sector SPDR Fund (NYSE:XLE) outperformed, up 0.4%.

Russell 1000's Top 5 Gainers

Russell 1000’s Top 5 Laggards

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