AMD Sinks 10.5% as Chip Rally Unwinds, Nasdaq 100 Falls 1.7%: Stock Market Today

Wall Street fell Friday as traders unwound this week’s rush out of Nvidia Corp. (NASDAQ:NVDA) and into rival chipmakers, sending Advanced Micro Devices Inc. (NASDAQ:AMD) down 10.5% and wiping out about $100 billion of its market value by midday. Stocks opened higher after a…