Latest news with #techselloff
Yahoo
16 hours ago
- Business
- Yahoo
Palantir sinks lower, chip stocks fall, Trump admin & chipmakers
Julie Hyman examines some of the top stories of the day on Yahoo Finance's Market Minute. Palantir (PLTR) stock extends recent losses. The stock, which is the S&P 500's (^GSPC) worst performer this week, is on track to record its sixth day in the red. Chip stocks, including Nvidia (NVDA), AMD (AMD), and Broadcom (AVGO), are also under pressure amid a continued tech sell-off. The Trump administration is reportedly weighing taking an equity stake in Intel (INTC) and other chipmakers, according to reporting from Reuters Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo! Finance's Market Minute. Stocks are sliding as tech sees its second day of big declines. Investors selling out of those stocks that led gains to start the year. Palantir taking the brunt of the beating in tech, heading for its sixth consecutive day of losses. Palantir is the worst performing stock in the S&P 500 this week, down nearly 20% in the last five days. It still leads the S&P 500 this year. And chip stocks are also getting hit. Nvidia, AMD, Broadcom, they're all down around 2% or more as investors take profits from those AI players. Elsewhere in the chip space, the Trump administration is considering taking a stake in any company that receives CHIPS Act funding, not just Intel. That's according to a Reuters report. The move could affect the likes of Micron, Taiwan Semiconductor, and Samsung. The US finalized subsidies of $4 billion for Samsung, about $6 billion apiece for Micron and TSMC just last year. And that's your Yahoo! Finance Market Minute. Scan the QR code below to track the best and worst performing stocks. Related Videos Mag 7 Firms May Report Positive Earnings Surprises: HSBC Gower: Further Upside in Gold Driven by Falling USD Walmart earnings, housing data, Fed & Jackson Hole: What to Watch Retail earnings: Consumers are spending on needs, not wants Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 hours ago
- Business
- Yahoo
Ready to Buy the Dip? 5 Nasdaq-100 Stocks Down 10% or More
The Nasdaq-100 Index ($IUXX) has experienced a significant tech-driven selloff, down 2.5% from last week's highs as investors grow increasingly wary of artificial intelligence (AI) valuations and upcoming Federal Reserve commentary. The decline has been particularly concentrated in major tech stocks, with Magnificent 7 companies like Nvidia (NVDA), Tesla (TSLA), and Meta Platforms (META) leading the downturn amid mounting skepticism about AI hype. Why Are Tech Stocks Down? Growing concerns have been fueled by OpenAI CEO Sam Altman's comments about a potential market bubble, coupled with an MIT study showing weak corporate returns from AI investments. Separately, the potential for government intervention in the semiconductor industry through an equity stake in troubled chip company Intel (INTC) has further dampened sentiment. Market participants are also rotating out of highly valued tech shares into more defensive sectors ahead of Fed Chair Powell's Jackson Hole symposium speech, with the tech-heavy index's weakness pulling the broader S&P 500 Index ($SPX) lower. More News from Barchart The Quantum Computing Race Is On: These 2 Stocks Appear Poised to Lead Should You Buy the Pullback in Palantir Stock Today? Michael Burry is Betting Big on This 1 S&P 500 Stock That's Down 40% in 2025 Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Despite the current market pressure, analysts largely view this as a healthy rotation rather than the beginning of a prolonged downturn, particularly given that technology stocks had risen approximately 40% from April lows. The combination of profit-taking, stretched valuations, and seasonal weakness typical of August-September has contributed to the current selloff, though expectations suggest that any Federal Reserve signals about rate cuts could quickly reverse the negative trend. 5 Nasdaq Stocks in Correction Territory There's still significant event risk to consider in the weeks ahead - but for investors in search of tech stocks that have already corrected by 10% or more from their year-to-date highs, here are 5 Nasdaq-100 components that could be worth further research. #1. Arm Holdings (ARM), down -28.2% ARM's selloff has been primarily driven by investor concerns over the company's strategic shift from licensing to processor design, coupled with disappointing Q1 2026 earnings that failed to meet market expectations. The decline has been further exacerbated by broader industry concerns, including AI implementation challenges and market saturation fears, despite Arm's continued dominance in semiconductor design. #2. Palantir (PLTR), down -17.8% Along with broader AI valuation concerns, PLTR stock in particular has plummeted after being targeted by Citron Research in a recent note. The short seller cited Palantir's unsustainable price-to-sales multiple of over 140x compared to AI leader OpenAI's 17x multiple. #3. CrowdStrike (CRWD), down -19.1% CRWD has also been caught up in the AI downturn, exacerbating the stock's slide over competitive pressures from Palo Alto Networks' (PANW) strategic moves in the cybersecurity space. #4. PayPal (PYPL), down -26.9% PayPal's stock selloff has been primarily driven by investor concerns over declining market share and weakening customer engagement metrics, despite the company beating revenue and EPS expectations in its Q2 earnings. More recently, institutional investors reduced their positions amid market uncertainty and competitive pressures in the digital payments space. #5. MicroStrategy (MSTR), aka Strategy, down -24.7% MSTR stock has been under pressure due to a risk-off rotation out of cryptocurrencies, along with investor concerns over the company's decision to relax share issuance restrictions below the 2.5x net asset value threshold. Despite the company's continued Bitcoin (BTCUSD) accumulation strategy, including its recent purchase of 430 BTC at $119,666 per coin, the market remains focused on potential share dilution risks following the policy change. This article was created with the support of automated content tools from our partners at Together, our financial data and AI solutions help us to deliver more informed market headline analysis to readers faster than ever. On the date of publication, Elizabeth H. Volk had a position in: NVDA. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
Wall Street tech selloff deepens, European shares steady
By Jaspreet Kalra and Noel Randewich MUMBAI/SAN FRANCISCO (Reuters) -Wall Street shares dropped on Wednesday, with a tech selloff extending into a second day, while a key meeting of central bankers later this week remained in focus for currency and rates traders. The S&P 500 ended down 0.2% and the tech-heavy Nasdaq Composite slid 0.7%, adding to a steep decline on Tuesday. Both indexes partly recovered from deeper, earlier losses. The Dow Jones Industrial Average edged up 0.04%. Analysts blamed a confluence of factors for the weakness in tech stocks, including concerns over steep valuations, investors exiting profitable positions, and risk aversion. "To me, tech was overbought," said Seth Hickle, managing partner at Mindset Wealth Management. "We had really good earnings, and now it's kind of natural for the market just to sell some of that good news." Wariness over U.S. President Donald Trump's growing influence over tech companies has also been in focus for investors. U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel and other chip companies, two sources told Reuters. That follows other unusual revenue-sharing deals Washington recently struck with artificial intelligence chip company Nvidia and Advanced Micro Devices. Apple, Alphabet and Amazon each dipped more than 1%. European shares rose, with the pan-European STOXX 600 index up 0.25%. Britain's FTSE 100 rallied 1.17% to a record high, boosted by gains in consumer and healthcare companies. FOCUS ON JACKSON HOLE The U.S. dollar weakened slightly against a basket of peers after Trump called on Federal Reserve Governor Lisa Cook to resign. The 10-year U.S. Treasury yield was little changed at 3.29%, while the 2-year Treasury yield slipped to 3.74%. The focus is now on the Federal Reserve's August 21-23 Jackson Hole symposium, where Fed Chair Jerome Powell is due to speak on Friday on the economic outlook and the U.S. central bank's policy framework. Powell's remarks on the near-term outlook for interest rates will be keenly watched as traders are almost fully pricing in a rate cut next month. "Even if Federal Reserve Chair Jerome Powell emphasises muted unemployment over sharply revised payrolls, that would be a hard sell to both the White House and a market that is pricing in 21 bp of rate cuts for September," analysts at ING said in a note. Minutes from the Fed's July meeting, where interest rates were left unchanged, showed almost all policymakers viewed it as appropriate to maintain the target range for the federal funds rate at 4.25% to 4.50%, despite two dissenters. Elsewhere, Sweden's central bank kept its key interest rate on hold as expected, while the Reserve Bank of New Zealand cut policy rates to a three-year low and signaled further easing, sending the kiwi down by more than 1%. Consumer prices in Britain climbed 3.8% in July, data showed, the fastest annual rise for a Group of Seven economy. The data nudged sterling higher, but it quickly pared gains, while the fact that inflation was not even higher prompted a rally in government bonds. The benchmark 10-year gilt yield was last down 7 basis points at 4.68%. Oil prices climbed about 1% on a bigger-than-expected weekly drop in U.S. crude inventories as investors awaited the next steps in talks to end the Ukraine war, with sanctions on Russian crude remaining in place for now. Spot gold rose 1% to $3,348.70 an ounce. [GOL/] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
SoftBank Sinks 9% as Asia Tech Stocks Follow U.S. Slide
This article first appeared on GuruFocus. SoftBank Group plunged as much as 9.2% Wednesday, leading a regional tech selloff after Wall Street losses tied to a pullback in Nvidia. The Tokyo-listed investment firm has now fallen for a second straight session, days after disclosing a $2 billion investment in Intel (INTC, Financials), whose shares jumped nearly 7% Tuesday in New York. Warning! GuruFocus has detected 10 Warning Signs with INTC. Other Japanese chip stocks dropped, with Advantest down 6.3%, Renesas Electronics off 2.5% and Tokyo Electron slipping 0.8%. The weakness spread across Asia. In Taiwan, TSMC (TSM, Financials) fell 1.7% and Foxconn (HNHPF, Financials) declined 2.2%. In South Korea, SK Hynix dropped 3.3% while Samsung Electronics edged 0.8% higher. The U.S. Commerce Department is weighing taking equity stakes in semiconductor companies that receive funding under the CHIPS and Science Act, according to Reuters. TSMC, Samsung and SK Hynix are among the recipients of U.S. subsidies aimed at boosting domestic chip manufacturing. In Hong Kong, the Hang Seng Tech Index lost 0.9%. Kuaishou Technology slid 4.8%, JD Health International dropped 3.3% and Horizon Robotics declined 2.3%. Heavyweights Alibaba Group and Xiaomi Corp also slipped, down 1.4% and 1.3%, respectively. The broad declines highlight how closely Asia's semiconductor and technology sectors remain tied to U.S. investor sentiment, particularly around Nvidia, whose chips power the latest wave of artificial intelligence applications. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
a day ago
- Business
- Irish Times
Tech sell-off dampens mood on Wall Street
Global markets were higher on Wednesday before a tech sell-off on Wall Street extended into a second day and dampened the mood. Dublin Euronext Dublin finished 1.6 per cent lower, dragged down by insulation specialist Kingspan, which sank 4.4 per cent off the back of a badly received profit warning from Danish peer Rockwool. Kingspan is one of the biggest companies on the index, and the situation was not helped by a 2.4 per cent dip apiece for fellow heavyweights Ryanair and AIB. Food giant Kerry Group was the standout performer on the day as it rose 1.7 per cent. READ MORE Kenmare Resources finished down 2.7 per cent after saying it will pay an interim dividend to shareholders despite plunging to an $88.6 million (€76.17 million) loss before tax in the first six months of 2025 after taking a $100 million impairment charge on mining assets in Mozambique. London The FTSE 100 hit a new all-time high as it climbed 1.1 per cent, shrugging off inflation data and fresh falls among technology stocks on Wall Street. The FTSE 250 ended up 0.2 per cent, but the AIM All-Share finished 0.5 per cent lower. Rate sensitive housebuilders bucked the upbeat mood on the FTSE 100, with Persimmon falling 0.3 per cent. Elsewhere, ConvaTec gained 5.6 per cent as the medical products supplier started a share buyback worth up to $300 million. Ithaca Energy jumped 10.4 per cent to the highest in nearly three years after the oil and gas company lifted its 2025 production forecast. Meanwhile, United Utilities firmed 3.5 per cent as Barclays upgraded to 'overweight' and set a 1,535 pence share price target. Europe European stocks rose for a third straight session, aided by gains in defensive sectors. The Stoxx Europe 600 Index advanced 0.2 per cent by the close. Defensive stocks that are less sensitive to economic cycles, including food and beverage and personal care, outperformed. Construction, as well as travel and leisure stocks, were the biggest laggards. The Cac 40 in Paris ended slightly lower, while the Dax 40 in Frankfurt closed down 0.6 per cent. Among individual stocks, Alcon slumped 9.4 per cent after the medical device manufacturer cut its net sales forecast. Elsewhere, United Utilities Group rose 3.5 per cent after the stock was upgraded to overweight by Barclays analysts. New York Shares on Wall Street dropped for a second successive day as weakness in the tech sector persisted while a key meeting of central bankers later this week remained in focus for currency and rates traders. The S&P 500 declined 0.8 per cent and the tech-heavy Nasdaq Composite dropped nearly 1.5 per cent in early trade, as the pressure persisted after a steep fall on Tuesday. The Dow Jones Industrial Average was down 0.2 per cent. Analysts pointed to a confluence of factors behind weakness in tech stocks, including concerns over steep valuations, investors exiting profitable positions and a general mood of risk aversion. 'I think we were priced for perfection in the US and there was quite a lot of complacency in markets, so some summer volatility should have been expected,' said Ben Laidler, head of equity strategy at Bradesco BBI. Wariness over US president Donald Trump's growing influence over the sector has also been in focus for investors. US commerce secretary Howard Lutnick is looking into the government taking equity stakes in Intel as well as other chip companies, two sources told Reuters. The potential moves follow other unusual revenue-sharing deals Washington has recently struck with US companies, including AI chip giant Nvidia and Advanced Micro Devices. While the individual developments may be brushed aside by markets, they fall into the broader bucket of concerns over the institutional framework in the United States, Mr Laidler said. – Additional reporting: Agencies
