POPA ReconWall Street Bleeds Trillions in One Day
Wall Street Bleeds Trillions in One Day On November 5, the AI trade cracked. The Nasdaq fell 5.52%, the S&P 500 lost 4.36% and the Dow dropped 1,833 points, erasing the entire post-midterm rally in a single session. The chip index SOX crashed 12.25%, with all 30 of its stocks in the red. Memory and storage took the hardest hit: Sandisk −22.3%, Micron −17.5%, Western Digital −17.4% and Seagate −16.3%. AMD fell 17.3%, while Lam Research, Applied Materials and KLA all lost more than 13%. Software didn’t escape either: Palantir, CrowdStrike and Palo Alto Networks each dropped almost 10%. The 24…
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