Stocks slid on Friday afternoon, with the Nasdaq Composite down 2.37% and the S&P 500 off more than 1% as chip, software and cybersecurity stocks sold off. The Dow, which opened in the green, was down about half a percent. Yahoo Finance’s Jared Blikre charts the damage: the VIX jumped about four points to 20.41, its highest level in months, WTI crude neared $100 and Brent hit about $110. Tech is down 3% on the day and 7.7% for the week. Blikre also walks through the classic bull trap pattern he’s seeing in the S&P 500, the Nasdaq and Bitcoin, and why the semiconductor ETF slipping below $500 is worth watching into next week.
Market Domination, Market Domination Overtime and Asking for a Trend are live weekdays 3-5pm ET with Yahoo Finance Host Josh Lipton.
00:00 Stocks slide as chips sell off
00:16 The Nasdaq drops more than 2%
00:33 The VIX tops 20
01:20 Oil nears $100
01:51 Software and cybersecurity join the selloff
02:07 Tech is down 7.7% this week
02:25 A classic bull trap
02:42 Chip stocks slip below a key level
#StockMarket #Nasdaq #TechStocks
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