There are signs that the U.S. stock market has peaked, including a sell-off of technology stocks.
Recently, the Wall Street Journal (WSJ), a leading U.S. economic magazine, reported that pension funds, which are representative institutional investors in the U.S., are withdrawing funds from stocks and investing in bonds. When a pension fund sells stocks and buys bonds, it is a typical sign of a peak in stock prices.
As if to prove this fact, a sell-off of technology stocks occurred in the U.S. stock market on the 19th (local time).
On this day, tensions in the Middle East did not have a significant impact on the market, with international oil prices only rising slightly. However, interest rate uncertainty led to a sell-off in large technology stocks, causing the Nasdaq to plummet by more than 2%.
As there are concerns that an interest rate hike will not occur within the year, and the possibility of further delay in interest rate cuts increases, there has been a sell-off in technology stocks, which are relatively sensitive to interest rates and have risen significantly so far.
◇ NVIDIA plunges 10% : First of all, Nvidia, which has led the generative artificial intelligence (AI) rally, fell 10%.
On this day, Nvidia recorded $762.00 on the New York Stock Exchange, down 10% from the previous trading day. As a result, the market capitalization also decreased to $1.905 trillion, collapsing $2 trillion.
There was no special negative news related to NVIDIA on this day. Nvidia’s stock price, which had risen the most so far, appears to have plummeted due to the sell-off of technology stocks on Wall Street.
As NVIDIA plummeted 10%, AMD, known as the next NVIDIA, also plummeted 5.44%.
In addition, Intel, the largest semiconductor company in the United States, fell 2.40%, Micron Technology, the largest DRAM company in the United States, fell 4.61%, and Taiwan’s TSMC fell 3.46%.
◇ Philadelphia Semiconductor Index plunged 4.12% : Accordingly, the Philadelphia Semiconductor Index, a semiconductor group, also plummeted by 4.12%.
◇ Super Micro plunged 23% : As Nvidia plummeted 10%, Super Micro Computer (hereinafter referred to as Super Micro), another leading AI beneficiary, also plummeted 23%.
On this day, Super Micro recorded $713.65 on the New York Stock Exchange, down 23.14% from the previous trading day.
Super Micro is a company specializing in AI servers, and its stock price has soared by about 250% this year, overwhelming the growth rate of Nvidia (80%), making it the best-selling AI company recently.
Such an AI company plummeted by more than 23% when Nvidia fell 10%. This can be interpreted as an ‘illustration’ that clearly shows the sell-off phenomenon of technology stocks on this day.
◇ Microsoft also collapsed by $3 trillion : On this day, Microsoft (MS), the No. 1 company in the U.S. market cap, recorded $399.12, down 1.27% from the previous trading day. As a result, the market capitalization also decreased to $2.966 trillion. The market capitalization of $3 trillion collapsed.
As of the closing price on January 25, MS exceeded $3 trillion in market capitalization, becoming the second American company to join the ‘$3 trillion market cap club’ after Apple. In addition, it surpassed Apple, which was struggling due to declining iPhone sales, and became the No. 1 company in the U.S. by market capitalization.
Since then, MS has steadily maintained its market capitalization of $3 trillion, but as it fell 1.27% on this day, its market capitalization of $3 trillion collapsed. This can also be said to be an ‘illustration’ symbolizing the sell-off of technology stocks.
The selloff in technology stocks appears to be another sign that the U.S. stock market has peaked.
(Seoul = News 1)
A sell-off in technology stocks has occurred, has the U.S. stock market reached its peak?
#report #deaths #dozens #injuries #Gaza #due #attacks #occurred #hours #International
More than one and a half million people have been forced to leave their homes since the Israeli offensive began. According to reports, most of the victims in the last hours were children or women.
At least 37 people died and 68 were injured in the Israeli attacks of the last 24 hours in the Gaza Strip, according to the count of the Gazan Ministry of Health, controlled by Hamas.
In its daily report on data collected by hospitals in the Strip, the ministry reported “four massacres against families” in the Palestinian enclave.
Thus, since the war between Israel and HamasOn October 7, 34,049 people were killed and 76,901 injured in the Israeli offensive.
According to the official Palestinian news agency, Wafa, last morning alone at least ten people lost their lives in Israeli attacks in the south of the enclave: nine in a bombing in the city of Rafah and one in an attack on a house near the cemetery to the east of the same town.
Most of the victims were children or womenaccording to the Palestinian media.
For its part, The Israeli Army said today it had destroyed a rocket launch site in the Beit Hanoun areain the north of Gaza, from where attacks against the Israeli town of Sderot had been detected.
They also detailed that their troops killed an alleged militiaman in a confrontation in the center of the enclave.
More than one and a half million people have been forced to leave their homes since the Israeli offensive began, most of which are located in the town of Rafah, bordering Egypt.
Israel has announced that it plans to invade Rafah to eliminate four Hamas battalions supposedly hiding in the area, but much of the international community – including the United States, Israel’s main military ally – has warned that a ground invasion in the south would cause an even greater humanitarian catastrophe.
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