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The rest of the market is leaving Big Tech behind after a historic comeback
MarketWatch • • business
Key Points:
- In September, artificial intelligence stocks significantly boosted the U.S. stock market, but in October, the sector is experiencing notable declines.
- The Nasdaq Composite, heavily weighted with tech stocks, was down 1.4% in October as of Tuesday, reflecting the sector's struggles.
- Semiconductor stocks, a key part of the AI trade, have faced more severe sell-offs compared to the broader market.
- Shares of major hyperscale tech companies have also been sold off by investors amid the downturn.
- Conversely, struggling software stocks and traditionally stable consumer staples and healthcare firms have seen some relief during this period.
