Big tech stocks dropped in premarket trading. Tesla fell 3%; Nvidia, Alphabet, Amazon, and Meta fell 2%; Apple and Microsoft fell 0.9%.
Chip stocks dropped in premarket trading. Direxion Daily Semiconductors Bull 3x Shares fell 8%; Navitas Semiconductor fell 6%; Intel, Arm, Marvell Technology, and ASML fell 5%; AMD, Super Micro Computer, Micron, and TSMC fell 3%.
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