May. 15 at 4:40 PM
Midday Market Update 🗞️
• U.S. markets sold off sharply Friday, with the Nasdaq leading the decline as investors reacted to rising oil prices, higher bond yields, and renewed inflation fears.
• Technology and AI-related stocks were hit the hardest, with NVIDIA and Applied Materials falling as traders took profits after the Nasdaq’s recent AI-driven rally.
• The surge in oil prices tied to the Iran conflict is increasing concerns that inflation could stay elevated longer, which is creating additional pressure on growth and tech-heavy sectors within the U.S. stock market.
$TQQQ $QQQ $SOXL $UCO