Chip index plunges 12%, its worst day since March 2020

By the closing bell the damage was worse: the Nasdaq finished down 5.52 percent at 24,315, the S&P 500 fell 4.36 percent, and the Dow dropped 3.44 percent — the largest single-day declines since April 2025.

The chip index fell 12.25 percent with all 30 stocks down; Micron tumbled 17.46 percent, SanDisk plunged 22.26 percent, and Nvidia dropped about 9 percent.

Goldman Sachs estimates states likely to tighten data-center oversight account for about 45 percent of planned new US capacity, with Texas alone roughly a quarter of the national total.