Why Tech Stocks Crashed on Wednesday
The tech market took it on the chin on Wednesday as the trade war picked up steam and the Federal Reserve sounds like it's not going to bail out the market.Big tech in both the U.S. and China were hit hard today. Broadcom (NASDAQ: AVGO) fell as much as 6.7%, Alibaba Group (NYSE: BABA) dropped 5.6%, and JD.com (NASDAQ: JD) fell 6.4%.After the market closed on Tuesday, investors learned that Nvidia would need a license to sell H20 processors into China, but that license hasn't been granted and it doesn't seem likely it will be. Continue reading
The tech market took it on the chin on Wednesday as the trade war picked up steam and the Federal Reserve sounds like it's not going to bail out the market.
Big tech in both the U.S. and China were hit hard today. Broadcom (NASDAQ: AVGO) fell as much as 6.7%, Alibaba Group (NYSE: BABA) dropped 5.6%, and JD.com (NASDAQ: JD) fell 6.4%.
After the market closed on Tuesday, investors learned that Nvidia would need a license to sell H20 processors into China, but that license hasn't been granted and it doesn't seem likely it will be.
