Memory chip rout sends NASDAQ 100 futures off a cliff

NASDAQ 100 futures fell nearly 3% in premarket trading after a sharp selloff in memory-chip related stocks, with weakness spreading across semiconductors and broader tech. The move followed reports from South Korea that SK Hynix may shift some spending from high-bandwidth memory (HBM) to traditional DRAM, fueling fears that demand for HBM chips could be softening. The KOSPI dropped 10% overnight, reinforcing the negative read-through for chipmakers. S&P 500 futures were also down 1.5%. Several names tied to the AI and semiconductor theme, including Micron, Applied Materials, Lam Research, and others, declined 7% to 8% in premarket trade. The VanEck Semiconductors ETF sold off 6%, while Alphabet also slipped after prior weakness tied to talent departures. Overall, the article highlights a risk-off reversal in one of the market’s strongest growth trades, with semiconductor leadership under pressure and the US Tech 100 likely facing further downside if the memory-chip narrative worsens.