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Nasdaq 100 Slips as Recession Signal and Chip Restrictions Rattle Tech Sector
Nasdaq 100 Slips as Recession Signal and Chip Restrictions Rattle Tech Sector
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The Nasdaq 100 (NDX) turned negative after a weak opening, pressured by a recession warning from The Conference Board's Leading Economic Index (LEI) and potential U.S. restrictions on semiconductor exports. The LEI's 0.1% May decline—following April's downward revision to -1.4%—reflects deteriorating conditions across jobless claims and consumer sentiment. Annualized six-month growth now sits below the 4.1% threshold historically preceding recessions.
Tech stocks faced additional headwinds as reports surfaced of impending Commerce Department curbs on Samsung, SK Hynix, and Taiwan Semiconductor. Meanwhile, geopolitical tensions simmered after President TRUMP deferred U.S. involvement in Israel-Iran negotiations for two weeks.
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