Semiconductor and software stocks sell-off pressures Wall Street 🗽
Futures on the Nasdaq 100 (US100) are down more than 1%. Nvidia (NVDA.US) and Oracle (ORCL.US) are among the biggest decliners, dropping by -3% and -4% respectively. Taiwan Semiconductor (TSM.US) and Broadcom (AVGO.US) are also under pressure, losing over 3%.
US economic data pointed to a solid increase in income and consumer spending. The PCE readings came in line with expectations, though service prices rose more than 3% YoY.
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US100 (H1 timeframe)
The US100 index is down over 1% on elevated volume, trading below both the EMA50 and EMA200 averages. On the daily timeframe, the RSI indicator has dropped to 31.
Source: xStation5
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