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The Peters Report.com | Weekly Market Recap | August 24 th
The Order of the Wind this Week:
1. BTC 2. $Gold 3. $Brent 4. SPY 5. DIA 6. QQQ 7. TLT
The biggest problem?
Semiconductors and AI-related momentum stocks got smoked.
The PHLX Semiconductor Index plunged 5.5% for the week, as selling spread across memory, optical and other AI-related names. Information Technology dropped 3.2% , while the Vanguard Mega Cap Growth ETF fell 2.0% .
And when the market’s biggest growth stocks start losing momentum, you feel it across the entire market.
The SMH - semi-conductor ETF
But technology wasn’t the only problem.
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