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Semiconductor Stocks Face Headwinds as Key Index Breaks Support

  • The S&P Semiconductors Select Industry Index is rolling over, which is bad news for broader stocks.

  • Semiconductor stocks look poised to drop based on recent price action.

  • Two charts illustrate how semiconductor stocks are showing weakness.

  • The S&P Semiconductor Index has broken below its 200-day moving average.

  • Oversupply and weakening demand are weighing on the semiconductor industry.

barrons.com
Relevant topic timeline:
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The Dow Jones Industrial Average fell 0.6% as major indexes tested their 50-day lines, while the S&P 500 and Nasdaq both experienced declines midday.
The stock market sinks as a tech selloff occurs due to investors' fear of more Fed rate hikes, with Apple, Tesla, and Nvidia all experiencing significant declines.
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