Tech Rout Sends Composite Down 3% in Brutal Rotation
The major U.S. indices are pulling back today, with the Nasdaq leading the decline amid a sector rotation out of high-valuation tech and semiconductor stocks.
• Dow Jones Industrial Average: – Down 0.90 percent (400 points) from yesterday’s record close of 51,561.93.
• S&P 500: Down 1.7 to 1.8 percent from yesterday’s close of 7,584.31.
• Nasdaq Composite: Down 3.0 percent (780 to 830 points) from yesterday’s close of 26,830.96. This marks one of the steeper single-day drops in recent months.
Tech and semiconductor weakness: Selling accelerated after Broadcom reported strong AI revenue but guidance that fell short of ultra-high investor expectations, triggering a broader rotation. Chips and growth names are under pressure.
Sector rotation: Value, financials, healthcare, and industrials are outperforming or holding up better, while the Nasdaq-100 and semiconductors lag sharply.
Markets remain near all-time highs despite today’s pullback (Dow hit records this week).
