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Tech Stocks Drag Nasdaq Down 1.5% as Market Leadership Broadens
Tech Stocks Drag Nasdaq Down 1.5% as Market Leadership Broadens
21
3
BTCCSquare news:
US equities retreated Tuesday as heavyweight tech names faltered, with the Nasdaq Composite dropping 1.5% amid sharp declines in Palantir (-9%) and AMD (-5%). The selloff contrasts with recent sector rotation into cyclical groups like health care and homebuilders that have fueled this summer's rally.
Defensive sectors outperformed, with real estate, utilities and consumer staples leading gains. Home Depot ROSE 3% despite an earnings miss, signaling potential stabilization in the housing market. Retail earnings season continues with Target and Walmart reporting later this week.
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