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Why Tech Tumbled and SpaceX Faded on Nasdaq-100 Debut Day
Description
The Tuesday session closed Red.
Here is why. A global semiconductor rout triggered by Samsung's earnings miss hammered mega-cap tech, even as a massive underlying rotation propped up the broader market.
💚 Sector Winner: Health Care (XLV) rallied 1.23% as investors moved to defensives.
💔 Sector Loser: Technology was pulverized, dragged down by a 4.7% plunge in the semiconductor index.
🚀 SpaceX (SPCX) dropped over 5% on its highly anticipated Nasdaq-100 debut as institutions faded the event.
🔔 The Look Ahead: Watch tomorrow's Federal Reserve meeting minutes and whether the S&P 500 can hold the crucial 7,500 Gamma Wall.
Content is for informational and educational purposes only. Market data may be subject to platform delays. This is not financial advice.