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A broad tech-led selloff hit chipmakers, AI-linked names and Moderna hardest while the Dow barely moved, showing the pressure was concentrated rather than market-wide. This pattern tends to weigh further on Nasdaq-heavy, rate-sensitive growth stocks if the selling continues, while the Dow's resilience suggests defensive/value names are less exposed.
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US stocks closed lower Thursday: the Nasdaq fell 2.6%, the S&P 500 fell 1.2% and the Dow edged up, with tech names hit hard including SpaceX down 9%, Meta down nearly 7%, Nvidia down 4.4%, SK Hynix down 8% and Moderna down 17%.
A broad tech-led selloff hit chipmakers, AI-linked names and Moderna hardest while the Dow barely moved, showing the pressure was concentrated rather than market-wide. This pattern tends to weigh further on Nasdaq-heavy, rate-sensitive growth stocks if the selling continues, while the Dow's resilience suggests defensive/value names are less exposed.
Jin10·10/23, 12:41 AM
Low impactJin10
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