The S&P 500 touched a session low, down 96 points or 1.6%. The Nasdaq is hurting worse, down 2.6%.
Worryingly, some of the highest flyers are being hit hardest today:
- MSFT -5.6%
- NVDA -4.7%
- META -4.6%$
- AMD -3% (after a 10% decline yesterday)
- SOXX semiconductor ETF -4.4%
- TSLA -2.6%
- GOOG -1.7% and has nearly closed yesterday’s earnings gap up
There are some bright spots out there but it’s not a great look for the Nasdaq chart. The question is: Are we looking at election angst or a retracement in the AI trade?
Earnings from Apple, Amazon and Intel are due after the bell.
Nasdaq daily