Nasdaq drops sharply as chip stocks tumble; S&P 500 winning streak in jeopardy
By
Sean Conlon, Lisa Kailai Han
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
The article covers a significant market sell-off led by a sharp decline in the Nasdaq, driven by a tumble in semiconductor stocks, ending the S&P 500's 9-week winning streak. It highlights a rotation out of tech into defensive sectors like consumer staples and healthcare. Other notable events include Paramount and Warner Bros. Discovery stocks falling on reports of a state lawsuit to block their merger, Bitcoin dropping to its lowest level since October 2024, and BTIG downgrading Lululemon after the company cut its annual outlook.
Key quotes
· 4 pulledStaples rise amid tech sell-off
Health care stocks rise on Friday, fueled by rotation out of tech sector
Bitcoin falls to lowest level since October 2024
BTIG downgrades Lululemon after athleisure retailer cuts annual outlook
You might also wanna read
Nasdaq 100 Faces Worst Week Since April Market Downturn Amid Tech Stock Selloff
The Nasdaq 100 is heading for its worst weekly performance since April's market meltdown, driven by a selloff in expensive tech stocks and A
fortune.com·7mo ago
Tech Stocks Lose $770 Billion in Market Value Following Trump Tariff Threats
Major technology companies including Amazon, Nvidia, and Tesla experienced significant stock price declines of around 5% each, resulting in
cnbc.com·7mo ago
Tech Stocks Lose $1 Trillion in Value as AI Investment Skepticism Grows
The article reports on a significant market downturn affecting major tech companies heavily invested in artificial intelligence, with approx
gizmodo.com·6mo ago
ETFs Outnumber Individual Stocks as Public Listings Decline
The article discusses the declining number of publicly listed companies in the U.S. stock market, noting that there are now more ETFs (excha
apollo.com·10d ago
Oracle stock declines more than tech peers amid concerns over AI strategy and borrowing
Oracle's stock fell more than its tech rivals during a Wall Street sell-off due to concerns about the company's heavy borrowing and reliance
ft.com·6mo ago