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Stock Sell-Off Accelerating, With Tech Bearing the Brunt

EQUITIES
  • US equity markets continue to sell-off around 45 minutes following the open, with the tech sector (and thereby the NASDAQ) bearing the brunt of the decline.
  • - More specifically the semiconductors sub-sector is sharply weaker, following in line with Europe as the worldwide chip shortage curtails production plans.
  • This morning, Germany's Infineon said they see 2.5mln 'lost cars' due to bottlenecks in specific chip products. The likes of NVIDIA, Qualcomm and Intel are all sharply lower so far, down as much as 4%.
  • Support for the e-mini S&P undercuts at the 20-day EMA of 4132.59 and the Apr20 low and key support of 4110.50.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeFixed Income BulletsEquitiesBulletMarketsEmerging Market NewsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeFixed Income BulletsEquitiesBulletMarketsEmerging Market NewsForeign Exchange Bullets

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