Jun. 9 at 8:41 PM
The chip rebound lasted exactly one day.
After Friday’s worst session in 6 years for
$SOXX and a 6% bounce Monday, semis got hit again Tuesday while broader markets slipped for the second time in three sessions.
$SOXX down 3%,
$MU down 4.7%,
$AVGO down 2%.
Nasdaq led the weakness, falling nearly 1%, while tech overall dropped close to 4% before rotation money flowed into cyclicals like
$HD and other defensives.
Meanwhile oil eased after headlines around Strait of Hormuz traffic, adding another layer of macro noise.
Market tone feels less about fundamentals and more about positioning and event risk. With major catalysts ahead, volatility is staying sticky and two-way.
