Business
Big Tech Isn’t Doing Its Part to Offset Chip Weakness
Yesterday the PHLX Semiconductor Index ended the session down 2%, but the Nasdaq closed in the green, up 0.6%.
Today the chip index is down roughly 4.4%, but the Nasdaq is also trading lower, down 1%. So, what’s different?
Look no further than Big Tech. Yesterday, most of the Magnificent Seven megacap tech stocks saw notable gains, leading the Roundhill Magnificent Seven ETF up more than 2.3%.
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