Up more than 1% at the open, the Nasdaq fell sharply just before midday on the East Coast, now down 1.9% and below its Friday close.
The S&P 500 is down 1% and the DJIA is down 0.5%.
The declines are led by AI favorites like Nvidia, Intel and Micron, all down 2-4%.
This decline cannot be attributed to tensions in the Middle East, as crude oil is at its lowest level of the session, down 4% to $87.58 per barrel. Gold and silver are also participating in the rapid decline, each falling more than 2% in the last hour or so.
Bitcoin (BTC) is also near its session low at $61,300.
With major losses in AI trading, Bitcoin miners turned AI infrastructure players are all significantly inferior. Hut 8 (HUT) is down 6.3%, MARA Holdings (MARA) is down 4.9% and IREN (IREN) is down 8%.
