What's Weighing on the Stock Market Today
The Nasdaq is diving as the rotation out of tech stocks picks up pace. The S&P 500 is also dropping Wednesday, while the Dow Jones Industrial Average is trying to hold on to a small gain.
The drop in tech comes as Donald Trump, who is now the favorite to win November's election, said Taiwan should be paying the U.S. for protection and accused it of stealing America's semiconductor business. China has long threatened to invade the island to bring it back under the control of the mainland. Taiwan is the dominant country in the global chip industry and a critical part of the supply chain.
The rotation out of tech and into other parts of the market began after last week's inflation print, which convinced investors that the Federal Reserve would lower interest rates at its September meeting, something that would be good for the shares of smaller companies.
https://www.barrons.com/livecoverage/st ... day-071724
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