S&P 500-1.24%▼ 7,380.50: slipped as technology and semiconductor weakness weighed on the benchmark. Nasdaq-1.89%▼ 25,672.23: declined sharply, driven by a semiconductor-led rout among large-cap AI and chip names. Russell 2000-0.88%▼ 2,977.87: fell, underperforming the modest gains in the Dow. Dow+0.04%▲ 51,732.79: posted a fractional advance while broader benchmarks weakened. VIX+11.63%▲ 19.29: rose alongside equity declines, marking elevated option-market volatility. Crypto: BTC+3.20%▲ $62,278.25 and ETH+4.40%▲ $1,657.66. What's driving the market this week A global semiconductor selloff, amplified by sharp moves in memory and chip equipment names and near-term earnings events, is pressuring technology indexes and widening losses in the Nasdaq. Headline gains remain narrowly concentrated in a handful of AI and infrastructure leaders, leaving market breadth weak and headline indices more sensitive to reversals in those names. Recent Fed leadership developments, including the announcement of multiple task forces to review central bank operations, are prominent news items this week and feature in market commentary.