Tech stocks pulled the market lower today, with the Nasdaq dropping 1.5%. Investors seem to be rotating out of the sector, and concerns about AI disruption are hitting software stocks. AMD sank 17% despite beating earnings estimates. The market focused on guidance and competition concerns rather than the CEO's comments about strong demand. Eli Lilly jumped 10% after a solid earnings report, widening the gap with competitor Novo Nordisk, which slid recently on a sales warning. Other notable moves: * Texas Instruments is buying Silicon Labs for $7.5 billion, causing SLAB to pop nearly 50%. * Enphase Energy and Super Micro Computer both saw double-digit gains. * Bitcoin dropped to around $72,100 before recovering slightly to $73,500.