Tech sector falters, reversing prior week's gains

Price Action
โดย Private Banker International·Read original
Summary · why it matters

Global equities fell around 1.8% last week, reversing the previous week's 2% gain. Emerging markets led the decline with a 4.2% drop, while the UK was the only market to rise, gaining 1.2%. The tech sector was the main driver, falling 5.7% and more than reversing its prior 4% gain, with chip-related stocks particularly volatile despite strong results from Micron. Nvidia is down 18% from its May high, and the Magnificent Seven are down 5% this year versus a 13% rise in global equities, weighed by concerns over AI spending and cost pressures. Renewed US-Iran hostilities briefly flared but both sides have agreed to return to negotiations, and crude oil prices have retreated to near $70 per barrel. Bond markets improved, with 10-year US Treasury and UK gilt yields falling 0.1%, returning around 0.8%.

Impact on stocks 2

Semiconductors▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
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