Tech stocks getting crushed as rate fears return — short the semiconductor slide
A massive tech selloff just wiped out $1.4 trillion from the S&P 500 on Friday, and stock futures are pointing to more losses this week. The selling is hitting AI and chip companies the hardest as Wall Street worries about higher interest rates.
Idea
Wall Street is rapidly dumping tech and AI stocks after a surprisingly strong jobs report killed hopes for lower interest rates. Japan's markets are already set to tumble, and U.S. stock futures are falling, indicating the panic that started Friday is spilling over into the new week. Major semiconductor companies are leading the charge lower, with Marvell experiencing a historic drop. This shift from greed to fear in the tech sector suggests more downside is likely in the coming days as investors rush to sell.