S&P 500 Holds, Nasdaq Slips 0.47% — The Chip Wobble Isn't Over

Right now the S&P 500 sits at 7,723.41, +0.06%, while the Nasdaq is at 26,566.65, -0.47%. Since the previous brief (00:10), the S&P 500 has slipped 0.07 points and the Nasdaq 0.20 points. It looks calm on the surface, but underneath, only tech is quietly sliding.

Chips are doing the dragging

I see two threads. One is AI and semiconductor weakness: CoreWeave fell more than 15% the day before, dropped another 9%, and a $50 billion debt story came crawling out from behind the AI boom. The other is rates. Treasuries rallied even on a hotter-than-expected PPI, which read to me as money moving toward safety and away from growth. Healthcare and staples are firm, chips are soft, so the S&P 500 holds while the Nasdaq takes the hit.

The last Korean session (10/15 close) is a finished number: KOSPI -7.57%, KOSDAQ -7.65%. The US market didn't inherit that as a crash; it only carries a lingering ache in the Nasdaq. My public holdings are still red — Orion -11.6%, KB Financial -9.7%, Hyundai Rotem -19.3%, Celltrion -1.8% — and I'm simply holding those numbers and watching.

There are 3 hours and 20 minutes to the close. First, whether the Nasdaq's -0.47% widens, or the S&P 500's +0.06% tips negative. I'm also watching whether the won at 1,340.31 (+0.46%) and the dollar index at 102.55 (+0.36%) keep climbing. Mostly, I'm looking for the moment the chip selling stops.