The US stock market's VIX fear index surged over 62%, breaking through the 27-point mark.

US stocks suffered a sharp sell-off, with tech stocks bearing the brunt of the decline. According to data from BIT Stock Platform, intraday maximum drops for the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite reached 2.38%, 3.57%, and 5.35% respectively. The Philadelphia Semiconductor Index’s slump widened to 11.6% at one point, triggering concentrated sell-offs across the AI hardware supply chain. Nvidia fell as much as 9% at one point, while TSMC, SpaceX, and Tesla each dropped 11% at their lows. The Forbes Real-Time Billionaires List shows that the US stock slump caused massive net worth losses for multiple global tech billionaires. Elon Musk’s net worth decreased by $91.2 billion in a single day, a 10.50% drop; Michael Dell, founder of Dell Technologies, lost $20.5 billion (down 9.60%); Jensen Huang, CEO of Nvidia, lost $15.1 billion (down 8.70%); Larry Ellison, founder of Oracle, lost $13.2 billion (down 8.05%); and Mark Zuckerberg, founder of Meta, lost $12.9 billion (down 5.98%). The combined net worth of these five billionaires shrank by $152.9 billion in one day, with Musk’s single-day loss accounting for nearly 60% of the group’s total combined loss.

According to data from the BIT stock platform, Apple's stock rose more than 1.6% intraday, hitting a record high of $355.38, and is now down 0.8% at $346.5. On the news front, Apple has launched a seven-tranche U.S. dollar investment-grade bond issuance, aiming to raise up to around $70 billion, joining the recent wave of frequent bond issuances by tech giants.

According to data from the BIT Stock Platform, the total market capitalization of U.S. stocks erased roughly $2.3 trillion about one hour after today’s market opening. During the session, the S&P 500 once dipped to an intraday low of around 7,394 points, plunging approximately 3.83%, with its total market cap also erasing around $3 trillion at one point. The market has since recovered somewhat, cutting the total erased market cap to roughly $2.5 trillion.

A gambler just suffered a series of liquidations—getting liquidated 8 times for a total of 201 $BTC ($15.6M).

According to data from the BIT Stock Platform, the Philadelphia Semiconductor Index is set to record its largest single-day decline since March 2020, with a latest drop of 11.48%. Semiconductor and storage stocks are leading the market downturn: Seagate (STX) fell 13.71%, Western Digital (WDC) dropped 15.26%, SanDisk (SNDK) declined 17.04%, Micron (MU) fell 13.20%, NVIDIA (NVDA) dropped 7.23%, Intel (INTC) declined 7.01%, and Advanced Micro Devices (AMD) fell 13.53%.

According to data from the BIT Stock Platform, both Berkshire Hathaway’s Class A (BRK.A) and Class B (BRK.B) shares hit intraday record highs. Class B shares rose 0.63% to $582.74 per share, touching an intraday peak of $586.30 to set a new all-time high. Class A shares gained 0.56% to $874,166.30 per share, hitting an intraday high of $877,252.56, also marking a new all-time record.