Higher by more than 1% at the open, the Nasdaq fell sharply lower just before midday on the East Coast, now down 1.9% and below its close on Friday.
The S&P 500 is down 1% and the DJIA is down 0.5%.
The decline was led by AI favorites Nvidia, Intel and Micron, all down 2%-4%.
The decline cannot be blamed on tensions in the Middle East, as crude is at a low, down 4% to $87.58 a barrel. Gold and silver are also taking part in the rapid plunge, each falling more than 2% over approx. the last hour.
Bitcoin (BTC) is also near its session low of $61,300.
With the AI trade leading losses, bitcoin miners turned AI infrastructure players are all markedly lower. Hut 8 (HUT) is down 6.3%, MARA Holdings (MARA) 4.9% and IREN (IREN) 8%.
