Traded Value$Proshares UltraPro QQQ(TQQQ.US)
Tech stocks were hit hard yesterday (AMD down more than 16%, NVDA down more than 3%), mainly due to:
• Semiconductor sector sentiment collapse: Some chip stocks' earnings guidance fell short of expectations, raising doubts about the speed of AI monetization.
• Macro risks stacking up: The yen's strength has led to renewed risks of carry trade unwinding (similar to the situation in August 2024), with the dollar index weakening but U.S. bond yields remaining high, creating a double squeeze on tech stock valuations.
Tonight we'll see if the Nasdaq can hold at 24,000
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