Traders pulled out of Nasdaq-100 futures at the fastest rate this year, driven by a significant selloff in chipmakers after ASML Holding NV unexpectedly lowered its 2025 guidance. This led to a massive contraction in futures holdings.
Open interest in Nasdaq-100 futures fell by $5.7 billion, the biggest drop in 2024, according to Bloomberg data. Despite volume reaching 524,000 contracts, slightly above the 20-day average, traders moved out of the broader technology sector in response to ASML’s announcement, triggering declines across semiconductor shares.
Globally, chipmakers lost $420 billion in value, with the Philadelphia Semiconductor Index dropping 5.3%, the steepest fall since September. Major players like Nvidia Corp were caught in the wave of selloffs, as uncertainty around the chip market outlook extended beyond 2025.
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