Big Tech Takes a Holiday as Markets Drop
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The US stock market experienced its longest losing streak since January as big tech companies sold off. Equities fell for a fourth straight day, with the S&P 500 dropping more than 4% from its all-time high. Chipmakers, particularly ASML Holding, saw a significant decline in orders. Nvidia, a market darling, led losses among the megacaps. Despite a strong start to the year with a 10% stock rally in the first quarter, investors are becoming increasingly skeptical about the market's near-term potential, even considering the strength of the American economy.

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https://www.bloomberg.com/news/newsletters/2024-04-17/bloomberg-evening-briefing-big-tech-takes-a-holiday-as-markets-drop