Nasdaq Falls 1.3% as Tech Giants Weaken; Semiconductor Index Surges 2% to Record High on June 23

According to BlockBeats, on Monday, June 23, the Nasdaq closed down 1.3% as tech stocks sold off broadly, overshadowing optimism from U.S.-Iran negotiations. Alphabet tumbled roughly 5% after Google DeepMind VP and 2024 Nobel Chemistry Prize winner John Jumper announced his departure for Anthropic, sparking concerns over AI talent exodus. SpaceX stock plummeted over 16%, marking its lowest level since going public.

Countering the broader tech weakness, the semiconductor index surged 2% to an all-time high. Lam Research (LRCX) rose 5.27%, Intel (INTC) climbed 5.19%, Applied Materials (AMAT) gained 3.74%, and Micron Technology (MU) jumped 6.82%. Optical communications stocks rallied across the board, with Credo (CRDO) up 11.29%, Coherent (COHR) gaining 9.22%, and Corning (GLW) rising 7.65%.