NASDAQ sinks 3% as tech sell-off reignites, dragging Bitcoin below $60K

The tech-heavy index extended its losing streak on June 9 after last week's brutal 4.18% single-day plunge, with semiconductor and AI stocks leading the carnage.

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Add us on Google by Editorial Team Jun. 9, 2026

The Nasdaq Composite dropped roughly 3% intraday on June 9, 2026, as investors who spent the weekend hoping Friday’s bloodbath was a one-off returned to find that, no, the sell-off had more to say.

This latest leg down follows what was already the index’s worst single-day performance since April 2025. On June 5, the Nasdaq cratered 4.18% to close at 25,709.43, dragging the S&P 500 down 2.64% and the Dow Jones Industrial Average lower by 1.35%. Multi-week winning streaks across all three major indices? Gone in a session.

What triggered the sell-off

The catalyst was deceptively simple: people have jobs. A hotter-than-expected May employment report landed on desks last week, and markets did what markets do when labor data runs hot. They repriced everything around the assumption that the Federal Reserve will hike rates later this year instead of holding steady or cutting.

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Semiconductors and AI-linked names bore the brunt. Micron plunged 13.3% on June 5. Intel shed more than 11%. Oracle fell 9.5%. Broadcom dropped 7.9%. Nvidia, the poster child for the AI trade, lost nearly 6%.

By Monday, June 9, the selling resumed. Early gains in the session were reversed as risk-off sentiment reasserted itself. The Nasdaq slid approximately 3% during the session, confirming that last week’s rout wasn’t simply a one-day tantrum.

The crypto spillover

Bitcoin didn’t escape the carnage. The largest cryptocurrency by market cap dipped below $60,000 as equities sold off. No other specific cryptocurrencies were prominently flagged during this particular equity downturn.

What this means for investors

Before the May jobs report, the consensus leaned toward the Fed holding rates or even entertaining a late-year cut. That consensus has been rearranged. Investors are now pricing in the possibility of additional tightening, and that changes the math on every growth stock and risk asset in the market.

The Nasdaq’s 4.18% drop on June 5 was its largest since April 2025. That means for over a year, investors had enjoyed relative calm in tech stocks. Monday’s 3% follow-through suggests the test is still underway.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.