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Why Big Tech Dumped While the Dow Hit a Fresh All-Time Record
Description
The Thursday session closed mixed with the S&P 500 flat, but a massive capital rotation shook Wall Street. Here is why.
A freezing June jobs report cooled rate-hike fears but triggered a brutal exit from overextended AI and semiconductor stocks, sending investors rushing into defensive blue chips.
🚀 Winner:
Healthcare (+2.70%), fueled by the defensive rotation and lower interest rate expectations.
📉 Laggard: Technology (-1.46%), heavily dragged down by a brutal sell-off in semiconductor and hardware names.
🔔 The Look Ahead: With U.S. markets closed Friday, all eyes turn to Monday's June ISM Services PMI to see if the economic cooling turns into a deeper freeze.
Content is for informational and educational purposes only. Market data may be subject to platform delays. This is not financial advice.