Nasdaq edges to a fresh session low as AI trades hit hard

The S&P 500 touched a session low, down 96 points or 1.6%. The Nasdaq is hurting worse, down 2.6%.Worryingly, some of the highest flyers are being hit hardest today:MSFT -5.6%NVDA -4.7%META -4.6%$AMD -3% (after a 10% decline yesterday)SOXX semiconductor ETF -4.4%TSLA -2.6%GOOG -1.7% and has nearly closed yesterday's earnings gap upThere are some bright spots out there but it's not a great look for the Nasdaq chart. The question is: Are we looking at election angst or a retracement in the AI trade?Earnings from Apple, Amazon and Intel are due after the bell. This article was written by Adam Button at www.forexlive.com.

Nov 1, 2024 - 00:45
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Nasdaq edges to a fresh session low as AI trades hit hard

The S&P 500 touched a session low, down 96 points or 1.6%. The Nasdaq is hurting worse, down 2.6%.

Worryingly, some of the highest flyers are being hit hardest today:

  • MSFT -5.6%
  • NVDA -4.7%
  • META -4.6%$
  • AMD -3% (after a 10% decline yesterday)
  • SOXX semiconductor ETF -4.4%
  • TSLA -2.6%
  • GOOG -1.7% and has nearly closed yesterday's earnings gap up

There are some bright spots out there but it's not a great look for the Nasdaq chart. The question is: Are we looking at election angst or a retracement in the AI trade?

Earnings from Apple, Amazon and Intel are due after the bell. This article was written by Adam Button at www.forexlive.com.

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