Nasdaq 100 drops 1.3%, chip rout fuels bond bid

US equities fell, led by a 1.3% decline in the Nasdaq 100 and a sixth straight session of losses for chip stocks, while Treasury demand rose as investors sought safety. The move reflects persistent risk-off sentiment in tech, though the scale of the bond bid and any macro catalyst remain unspecified. This matters as a sustained tech selloff could pressure broader risk appetite and support rates.