Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%

Bank of America advised investors to 'take profits' as seven of its 10 bear-market indicators were triggered, leading to a 7% Nasdaq drop and significant declines in the S&P 500 and Dow. Leveraged funds like Direxion Daily Semiconductor lost billions, while semiconductor stocks fell sharply due to Broadcom's cautious guidance and a memory glut.