What's Behind Today's Tech Carnage: Goldman's Trading Desk Explains

Yesterday we warned that September is traditionally the worst month not only for the broader market, but certainly for tech names...

.... and sure enough today has been nothing short of carnage for tech in general and the Mag7 in particularwith NVDA tumbling as much as 8%, dipping below $110, and the SMH semiconductor index tumbling over 6%, a worst 1-day rout than the Aug 5 crash, and 2nd worst day of 2024 for the semi space.