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Live Nasdaq Composite: Tech Stock Strength Buoys Market Sentiment Despite Hawkish Fed
Live Coverage Has Ended

Momentum Stocks Crash

Photo of Eric Bleeker
By Eric Bleeker Published

Live Blog Update #3 Published

← Back to Full Coverage: Stock Market Today: Nasdaq Composite Falls & Quantum Computing Stocks Collapse (RGTI, IONQ, QUBT)

As we near the closing bell, major indexes are generally flat today. The Nasdaq is down .12%, while the S&P 500 is up .12%.

Yet, today did see major movements in many stocks that had raced higher in recent months.

  • Quantum Computing: Stocks like Rigetti, Quantum Computing Inc, IonQ, and D-Wave Quantum Computing all finish the day down between 35 and 46%. For a deeper look at IonQ’s drop today, 24/7 Wall St. Analyst Rich Duprey covered the stock’s move in more detail.
  • AI Stocks: Stocks that had seen major moves with the word ‘AI’ in their name generally fell today. SoundHound AI (Nasdaq: SOUN) and BigBear AI (Nasdaq: BBAI) were both down nearly 17%

As a general rule, if the stock is a favorite among retail traders or has gone up a significant amount, it likely saw a steep drop today.

In the case of quantum stocks, this drop was exacerbated by comments from NVIDIA CEO Jensen Huang, and many other stocks are seeing profit-taking as the prospect of higher interest rates leads to ‘de-risking.’

All Updates from Live Coverage

AMD Falls After Downgrade

| Eric Bleeker
Live

HSBC lowered their price target on Advanced Micro Devices (Nasdaq: AMD) from $200 to $110 today. AMD is off about 3.5% today following the downgrade.

While AMD is up 155% in the past five years, it has underperformed rival chipmakers in the AI space across the past year. AMD is down 16% in the past year while NVIDIA is up 169% and Broadcom has gained 114%.

The key reason for HSBC’s downgrade is that AMD’s high-end GPUs just aren’t as competitive as previously thought with NVIDIA’s aggressive roadmap where Blackwell’s first product (GB200) is currently shipping and another update (GB300) is due in the second half of 2025.

If you’re interested in why stocks like Broadcom are seeing such stronger performance than AMD, grab a copy of our complimentary “The Next NVIDIA” report which details why Broadcom is poised to become NVIDIA’s greatest rival in the growth of AI.

In other market news, quantum stocks remain near their lows for the day. As of 11:45 a.m. ET Rigetti Computing is down 47%, IONQ is down 43%, and Quantum Computing Inc is down 48%.

Tech Stocks Move into the Green

| Eric Bleeker
Live

As of 11:05 a.m. ET, the Nasdaq Composite is still down .27%.

However, stocks in the Information Technology sector are now up for the day, showing a .20% gain. IT is one of four sectors that are showing gains midday.

Notable larger stocks today include Microsoft (Nasdaq: MSFT), which is up .92%.

Outside technology, stocks in the medical devices space are seeing strong returns. Among drug manufacturers, Eli Lilly (NYSE: LLY) is up 1.63% while rivals Johnson & Johnson and Merck are both down more than 1%.

View Full Live Blog (3 Updates)
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About the Author Eric Bleeker, CFA →

Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.

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