Yesterday, led by the semiconductor sector, $NASDAQ(.IXIC)$ had its worst day since 2022. $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ plummeted by 21%, while $Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ surged by 21%. $NVIDIA Corp(NVDA)$ shares fall 6.6%, market value evaporates $205.9 billion overnight.
Chip stocks were hit by actions from both the Biden and Trump administrations. The Biden administration had previously informed allies that it would consider imposing strict restrictions on certain chip companies.
Following the S&P 500's record-breaking 38 highs this year, the US stock market is now exposed to the risk of weak capital inflows and is susceptible to negative news.
In a memo sent to clients on Wednesday, Goldman Sachs strategists mentioned that, based on data since 1928, July 17th typically marks a turning point for US stock returns. The subsequent month of August is usually the worst for passive investment and mutual fund outflows.
However, some investors seized the opportunity to buy the dip in Nvidia yesterday. A netizen commented, “It's a Prime Day sale. Get it while it's cheap.” Some tigers bought Nvidia under $120.
If this pullback continues, Nvidia's next targets could be $110 or $100.
Did you shop on sale?
At what price would you bottom fish?
Leave your comments and also post to win tiger coins~
Comments
time to shop if pullback, buy low sell high [Grin] [Grin] [Grin]
that's the way it is, that's the cycle [Grin] [Grin] [Grin]
show and give me the [USD] [USD] [USD] [Evil] [Evil] [Evil]
@Aqa @GoodLife99 @Universe宇宙 @rL @HelenJanet @Shyon @LMSunshine @koolgal @SPACE ROCKET @TigerGPT
Did you shop on sale?
At what price would you bottom fish?
Leave your comments and also post to win tiger coins