WS #10533
Semiconductor stocks are in a severe selloff with MU down ~9.9%, dragging ARM, MRVL, TSM, AMD down 5-20%, as a sector rotation out of high-beta semis into legacy tech like IBM (+7.8%) unfolds. A large dark pool trade of 2M shares of ARKK at $77.27 ($154.54M total) suggests institutional de-risking amid the tech selloff. Bloomberg reports the dollar jumping to its highest since November on Fed rate hike bets, creating a macro headwind for growth stocks and commodities.
Semiconductor Bloodbath
Semiconductor stocks are in a severe selloff with MU down ~9.9%, dragging ARM, MRVL, TSM, AMD down 5-20%, as a sector rotation out of high-beta semis into legacy tech like IBM (+7.8%) unfolds.
A large dark pool trade of 2M shares of ARKK at $77.27 ($154.54M total) suggests institutional de-risking amid the tech selloff.
Bloomberg reports the dollar jumping to its highest since November on Fed rate hike bets, creating a macro headwind for growth stocks and commodities.