60 Minutes · Here's what's behind the current tech stock selloff

1. 1. The Nasdaq sank roughly 2% and the S&P 500 fell 1.4% amid concerns about inflation and potential interest rate hikes.
2. 2. Investors who once embraced AI-driven growth are now demanding proof that massive investments will translate into stronger earnings.
3. 3. The current selloff is a short-term correction and not a panic, triggered by a slide in the South Korean KOSPI overnight.
4. 4. Micron's market value took a $180 billion hit today, but the stock is still up 8% for the month and 270% for the year.
5. 5. President Trump claimed the typical 401(k) is up almost $30,000 and up 44%, linking stock market performance to personal wealth.
6. 6. Jolene Kent advises average Americans to maintain a long-term view and not make sudden moves with retirement savings due to market blips.