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via seekingalpha.comMarkets

Brutal tech week: Alphabet posts record plunge and Intel falls 30% as chip, cloud and software stocks sell off

FROM THE WIRE · SEEKINGALPHA.COM

[Abstract Urban Financial Display with Vibrant Digital Market Trends] A broad selloff in technology stocks gathered pace this week, with chipmakers, cloud computing groups, cybersecurity companies and software providers all sharply lower. Several of the sector’s biggest names…

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA broad tech selloff, with several mega-caps losing billions after disappointing earnings or forecasts, weighs on technology indices.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The selloff in technology stocks gathered pace this week across chipmakers, cloud, cybersecurity and software providers.
  2. 02The iShares Expanded Tech-Software ETF (IGV) fell 5.52% for the week.
  3. 03Alphabet suffered a record one-day percentage drop, according to the headline.
  4. 04Analyst Dan Ives called the week absolutely brutal for technology investors.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
NVIDIA CorporationNVDAStock204.64 USDMarket closedtoday -4.22%Negative Alphabet Inc.GOOGLStock279.84 USDMarket closedtoday -1.40%Negative Intel Corp.INTCStock65.76 USDMarket closedtoday -28.58%Negative Microsoft CorporationMSFTStock521.91 USDMarket closedtoday -1.55%Negative iShares Expanded Tech-Software Sector ETFIGVETF104.29 USDMarket closedtoday -3.41%Negative PHLX Semiconductor IndexINDEX:SOXIndex10,688.80Market closedtoday -7.20%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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