Dossier
Michael Monaghan
Coverage of Michael Monaghan in the Nexus archive.
Nasdaq Compositetopic1Marvellorganization1MSTRorganization1AppLovinorganization1Lumentumorganization1Parabolic 7topic1Smuckerorganization1Home Depotorganization1Sherwin-Williamsorganization1SpaceXorganization1OpenAIorganization1Anthropicorganization1Richard Steinbergperson1Brian Jacobsenperson1AI jitterstopic1Strait of Hormuzplace1
- Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
The Nasdaq Composite dropped over 4% by midday before recovering to close down 1%, driven by a sell-off in tech stocks like Marvell, MSTR, and the 'Parabolic 7' chipmakers. Investors rotated into consumer staples such as Smucker, Home Depot, and Sherwin-Williams, signaling a shift away from AI-linked tech trades amid anticipation of SpaceX's IPO and upcoming inflation data.