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AIAxios Techabout 6 hours ago
Chips sector bloodbath drags Nasdaq down 4.2%The Nasdaq plummeted 4.2% Friday, its worst session in 14 months, due to rising bond yields and concerns about AI trade growth expectations. Chip stocks, including Broadcom, suffered losses after a stronger-than-expected May jobs report triggered the jump in yields. This makes it more expensive for AI companies to maintain their spending. The decline is a bloodbath for the chip sector, which underpins the AI economy.
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