WS #16589
The semiconductor sector is under severe pressure following Intel's downgrade to Neutral by BofA and a weak outlook, which has dragged down the entire chip complex. NVIDIA is also facing headwinds, gapping down in premarket trading as investors rotate out of high-multiple tech names. This weakness is broadening to social media platforms like Reddit and Pinterest, which are tumbling on weak user growth, signaling a deepening risk-off sentiment across the technology sector.
Tech Selloff & Semiconductor Weakness
The semiconductor sector is under severe pressure following Intel's downgrade to Neutral by BofA and a weak outlook, which has dragged down the entire chip complex. NVIDIA is also facing headwinds, gapping down in premarket trading as investors rotate out of high-multiple tech names. This weakness is broadening to social media platforms like Reddit and Pinterest, which are tumbling on weak user growth, signaling a deepening risk-off sentiment across the technology sector.