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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Create account Try a demo Download mobile app Download mobile appToday’s weakest sector is technology, particularly semiconductors and software, while the healthcare and energy sectors are performing relatively better.
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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