The Nasdaq Composite Index dropped below the 26,000 mark, closing at 25,999.41, a 1.05% decline. The downturn was driven by a collective slump in the semiconductor and chip sector. Notable declines included Intel, which fell 7.01%, and Qualcomm, which saw a 10% drop after three days of gains. Other significant losses were recorded by Micron Technology, down 6.08%, and AMD, which fell 3.06%.