The tech-heavy NASDAQ index is below heavy strain right now, led by sharp declines in semiconductor shares. Sentiment has soured following information that Nvidia will take a $5.5 billion cost attributable to new U.S. export restrictions that require licensing to ship its H20 AI processors to China and different nations.
Presently,
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Nvidia (NVDA) shares are down 7.25%
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AMD shares have dropped 6.76%
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Broadcom (AVGO) is decrease by 2.93%
The NASDAQ index is presently down 351 factors (-2.07%) at 16,475.75, after falling to a session low of 16,420.56. The excessive for the day reached 16,600.36.
From a technical perspective, right now’s sharp drop has taken the index again beneath its 100-hour shifting common (blue line on the chart above), presently at 16,673.30. The value had moved above this degree on April 14 and remained there by way of yesterday’s session, however right now’s hole again beneath suggests a renewed bearish tilt.
Wanting forward, the following key draw back goal is the 50-hour shifting common, which is available in at 16,330.78 and is progressively rising.
