Nasdaq Falls Hard As Chip Stocks Weaken; Nvidia, Eli Lilly, Tenet Healthcare In Focus
Blue chips outperformed, lifting the Dow Jones to another all-time closing high.
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Show Notes
Chip stocks fell hard on reports the Biden administration is considering tougher export curbs to limit China’s access to advanced chip technology. But breadth wasn’t too bad, with losers beating winners on both exchanges by less than 2 to 1. Consumer staple stocks outperformed, along with energy, health care, financial and real estate stocks. Sellers knocked Nvidia and Eli Lilly lower, but Tenet Healthcare is trading tightly near its 10-week moving average.
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