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Nasdaq was down 2% yesterday and today around noon already down 3%. Amazon,Google,Space X all down.
Is this the hick-up that sparks the pop or just a correction? My bet was they were going to wait until after the midterms to tank everything...
Down 2%? No lol.
It's leaked trump will do crazy Iran stuff soon which will hurt world economy more.
Should have been more clear in the title. 2% yesterday and today another...3.5% (1 hour before close) that's 5.5% in two days. My understanding is this is already a shaky house of cards. Doesn't need much to get things tumbling. For reference it's down just under 7% for the month.
Yeah so it's a downward trend not just AI companies, everything, it's cuz overall economy is down, energy prices up, shipping things is more expensive.
In fact 2% down seems kind of small.
Should have been more clear in the title. 2% yesterday and today another...3.5% (1 hour before close) that's 5.5% in two days.
How is nvidia doing, the AI central bank?
It's one of the only stocks up today I see.
It seems like we have people talking past each other so I'm just going to look at the actual data and figure it out.
The 5 day trend on Nasdaq is 2% down. But any 5 days could do anything. The 1 month trend is more interesting, at 5%. To determine if it's AI related is pretty easy. All Nasdaqs tend to follow each other. So if looking at an individual you don't know if it is that company struggling or peer effect on Nasdaq. So you look at it against the index.
Nvidia probably is the highest exposure. Down 10.65% for the month. So 5.6% against index. The 10% is irrelevant.
But that's one company, subject to it's own volatility and competition. So we'll hit a few more AI exposed companies. Microsoft, Alphabet, Meta, Amazon are all pretty exposed to AI, but have other exposures. So I did get AI to find me the companies that are more pure.
Broadcom, -3.17% against index
MRVL, -20.4% against index
SMCI, -16.5% against index
SNPS, +17.56% against index
SOUN, -22.9% against index
So yeah. It looks like AI is collapsing this month. With the exception of SNPS, which does chip design.