(Bloomberg) -- Traders exited Nasdaq-100 futures at the fastest pace this year on Tuesday as shares of chip makers slid following ASML Holding NV’s surprise announcement lowering its 2025 guidance.
Open interest — or the size of outstanding positions — in the contracts sank by $5.7 billion notional value, according to data compiled by Bloomberg, the biggest drop in 2024 and dwarfing the average daily change.
That steep drop in open interest came even as volume was 524,000 contracts, just above the 20-day average, further underlining that traders were fleeing the broader technology space as ASML’s early report reverberated across semiconductor shares.
Globally, chip makers lost some $420 billion in value. The Philadelphia Semiconductor Index dropped 5.3% Tuesday, the most since early September, with Nvidia Corp. and others caught up in the selloff.
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