WS #16922
The Nasdaq is lagging the broader market as investors rotate out of AI infrastructure names following the midterm election rally. Nvidia's 650,000 H200 chips remain stuck in Hong Kong awaiting import approval, creating a tangible supply bottleneck that is dampening sentiment for the entire semiconductor supply chain. While companies like Arista Networks and Microsoft show strong underlying demand, the broader narrative has shifted to 'sell the news' for high-multiple tech stocks, with Bitcoin miners also oversold after a 35% October rout.
Semiconductor & AI Selloff
The Nasdaq is lagging the broader market as investors rotate out of AI infrastructure names following the midterm election rally. Nvidia's 650,000 H200 chips remain stuck in Hong Kong awaiting import approval, creating a tangible supply bottleneck that is dampening sentiment for the entire semiconductor supply chain. While companies like Arista Networks and Microsoft show strong underlying demand, the broader narrative has shifted to 'sell the news' for high-multiple tech stocks, with Bitcoin miners also oversold after a 35% October rout.