FYI: Tech stocks, admittedly the best performers of the year, took a big step back Wednesday led by a selloff of chip makers, dragging on the broader benchmarks.
While Autodesk Inc. ADSK, -15.86% was the worst performer on the S&P 500 index SPX, -0.04% with a 16% drop following the software company’s earnings and a restructuring announcement, most of the selloff was concentrated in the chip sector. The PHLX Semiconductor Index SOX, -4.39% fell 3.5%, while the S&P 500’s tech sector headed for worst day since June 9, when it dropped 2.7%. The SOX index is up about 40% on the year.
Regards,
Ted
https://www.marketwatch.com/story/chipmaker-tech-selloff-drags-on-broader-market-2017-11-29/print
