Wall Street fell sharply on Friday following a solid jobs report for September that increased the likelihood the Federal Reserve will barrel ahead with an interest rate hiking campaign many investors fear will push the U.S. economy into a recession.
Technology stocks added to their Friday decline, with the SPDR Technology Select Sector ETF (XLK) falling 4.2% while the Philadelphia Semiconductor Index was sliding 6.1% this afternoon.
In early trading on Friday, shares of DexCom topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.3%. Year to date, DexCom has lost about 23.9% of its value.
In afternoon trading on Friday, Technology & Communications stocks are the worst performing sector, showing a 3.6% loss. Within that group, Advanced Micro Devices Inc (Symbol: AMD) and ON Semiconductor Corp (Symbol: ON) are two large stocks that are lagging, showing a loss
Wall Street fell sharply on Friday after a solid jobs report for September increased the likelihood the Federal Reserve will barrel ahead with an interest rate hiking campaign many investors fear will push the U.S. economy into a recession.
In early trading on Friday, shares of DexCom topped the list of the day's best performing components of the S&P 500 index, trading up 7.3%. Year to date, DexCom has lost about 23.9% of its value.
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which m
Advanced Micro Devices (NASDAQ: AMD) will badly miss its guidance for the third quarter as the PC market hits some serious turbulence after two years of pandemic-fueled growth. AMD had previously expected to report revenue of $6.7 billion, but now it sees the top line coming in a
Technology stocks were declining on Friday, with the SPDR Technology Select Sector ETF (XLK) falling 4.0% while the Philadelphia Semiconductor Index was sliding 5.6% this afternoon.
What happened
Shares of leading chip stocks were tumbling today after Advanced Micro Devices (NASDAQ: AMD) confirmed what investors had been fearing: a severe downturn in PC demand. AMD won't release fiscal third-quarter results until November, but it announced preliminary revenu
The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. tools, vastly expanding its reach in its bid to slow Beijing's technological and military advances.
U.S. stocks nosedived on Friday as solid job growth and a drop in the unemployment rate last month boosted the chances of more jumbo-sized interest rate hikes, while a revenue warning from Advanced Micro Devices hit chipmakers.
The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. tools, vastly expanding its reach in its bid to slow Beijing's technological and military advances.
Wall Street slid on Friday as solid job growth and a drop in the unemployment rate last month gave more room for the Federal Reserve to stick to jumbo-sized interest rate hikes, while a revenue warning from Advanced Micro Devices hit chipmakers.
AMD (NASDAQ: AMD) is the latest semiconductor company to report trouble with the PC (personal computer) market. After more than two years of pandemic-fueled spending on work-from-home equipment, the consumer is getting tapped out on desktop and laptop computers. AMD said it will
Stocks turned lower on Friday after figures showed the U.S. economy was creating jobs at a strong pace and give the Federal Reserve cover to continue with hefty interest rate hikes to quell inflation.
Wall Street was set to open sharply lower on Friday as solid job growth and a drop in the unemployment rate last month pointed to a tight labor market, giving more room for the Federal Reserve to stick to big-sized interest-rate hikes.
Reuters
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23 minutes 58 seconds ago
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