Tech in crisis: XLK -8%, SOX -12% and S&P 500 down over 4% in one session
FROM THE WIRE · FINANCE.YAHOO.COM
The S&P 500 (^GSPC) fell more than 4% Thursday, and tech fell nearly twice as far. The Technology Select Sector SPDR Fund (XLK) dropped 8%, its worst day since March 16, 2020, the worst day of the pandemic crash. The AI trade took the brunt of Thursday's sell-off. Nvidia (NVDA)…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA drop of this size in tech can drag indices and semiconductors, with effects across the AI trade.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The S&P 500 fell more than 4% Thursday and tech nearly twice as much.
- 02XLK dropped 8%, its worst day since March 16, 2020.
- 03Nvidia and Broadcom fell about 9% to 10%, the PHLX Semiconductor Index lost 12%.
- 04The S&P 500 tech sector is about 17% below its October 6 record after 22 sessions.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Broadcom Inc.291.53 USDMarket closedtoday -10.43%Negative NVIDIA Corporation181.60 USDMarket closedtoday -9.26%Negative State Street Technology Select Sector SPDR ETF162.38 USDMarket closedtoday -8.00%Negative S&P 5007,353.73Market closedtoday -4.36%Negative PHLX Semiconductor Index9,011.14Market closedtoday -12.25%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets