From Nasdaq: 2024-08-01 14:06:54

Tech stocks experienced a sharp decline, with XLK dropping 3.8% and XSD falling 6.9%. The Philadelphia Semiconductor index also plunged by 6.9%. Qualcomm shares fell 9.4% due to concerns over the impact of the US government’s decision on Huawei.

Applied Materials shares dropped 8% after news that they will not receive funding for a $4 billion facility. Meanwhile, Meta Platform saw a 4.4% increase in shares following better-than-expected Q2 earnings and sales.



Read more at Nasdaq: Sector Update: Tech Stocks Slump Thursday Afternoon