India, July 23 -- The Nasdaq Composite extended its losses on Wednesday as investors pulled back from technology stocks amid soaring energy prices and renewed risk aversion across global markets. The tech-heavy index fell nearly 2%, with weakness across major semiconductor and artificial intelligence stocks weighing heavily on sentiment.

US Market Snapshot

What Is Happening in the NASDAQ US Stock Market Today?

The Nasdaq is under heavy pressure as investors rotate away from high-growth technology stocks following a sharp spike in global oil prices. Rising energy costs have fueled concerns about inflation, which could complicate expectations for future Federal Reserve interest-rate cuts.

The broad-based decline has been led by mega-cap...