Nasdaq Experiences Significant Decline Amid Semiconductor Selloff and Fed Policy Shifts

The Nasdaq composite index saw a substantial decrease, primarily driven by a downturn in semiconductor stocks, with Micron notably affected. This market movement follows the Federal Reserve's recent decision to maintain current interest rates while increasing its projected federal funds rate for late 2026. The new Fed Chair's emphasis on inflation control and removal of previous dovish language has heightened expectations for future rate hikes, impacting growth-oriented assets like AI and semiconductor companies.