Market Analysis: Nasdaq Enters Correction Territory Amid Big Tech Sell-off
Major U.S. indices experienced significant declines on Thursday, with the Nasdaq-100 falling 6.36%, pushing it into correction territory as it sits 15% below its October high. The sell-off was driven by a 'torrent' of capital exiting big tech and data center-related stocks, leading some analysts to suggest a potential rotation into non-tech sectors. While technology and the S&P 500 faced steep losses, Chinese ETFs showed resilience, gaining strength as investors explored AI opportunities in China. Meanwhile, attention turns to upcoming 'Squawk Box' appearances from Moderna CEO Stephane Bancel and earnings/updates from Under Armour and Bloomin' Brands. Investors are also monitoring rising credit default swap prices for major tech players like Amazon and Meta.
Tickers: $AAPL $CLX $FXI $IREN $KWEB $MCHI $MRNA $ORCL $WMT
Topics: China ETFs Moderna interview Nasdaq Composite S&P 500 Tech Sector decline
Part of the story Major Tech Sell-off Triggers Market Correction as AI Growth Concerns Mount (5 articles)