The widespread sell-off in US equities (^DJI, ^IXIC, ^GSPC) continues just ahead of Monday’s closing bell. The tech sector (XLK) has been a significant anchor dragging down tech-heavy indexes, but could this be a good thing for Big Tech’s Magnificent Seven as investors were rotating out of tech before this broad selling activity even began?
Josh Schafer outlines the year-to-date trends that brought the tech trade to new heights, now contending with new challenges, and how closely Wall Street will be watching Nvidia’s (NVDA) second quarter earnings results on Wednesday, August 28.
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