Markets edge toward mixed close, chip stocks continue to feel pressure
Markets reporter Jared Blikre examines the market and sector action ahead of the day's close, while also looking at the U.S. dollar and losses seen in the semiconductor industry.
Markets edge toward mixed close, chip stocks continue to feel pressure
Markets reporter Jared Blikre examines the market and sector action ahead of the day's close, while also looking at the U.S. dollar and losses seen in the semiconductor industry.
Video Transcript
SEANA SMITH: Just about 90 seconds here from the closing bell. Let's get a closer look at the reversal that we've seen in just the past hour or so with Jared Blikre. Jared.
JARED BLIKRE: That's right. And let's take a look at the YFi Interactive, where we are seeing a comeback rally of sorts today in the Dow. This is over the last two days. So you can see it is down about half a percent. We're going back to last month. NASDAQ down about 1/3 of a percent. Russell 2000, the small caps, off more than 1%. Just want to show a quick chart of the US Dollar Index. This is-- this goes back to the 1980s.
Just want to show you that we are at the highest level in 20 years. This is having all sorts of repercussions in the market. You take a look at the sector action today, energy down 2 and 1/2%. That's as WTI crude closes at the lowest level since I believe January. Don't quote me on that, though. Materials also weak. That's off more than 1%. And tech having another bad day. That is off 1/2 a percent.
And you take a look inside the NASDAQ 100, got some action going on in the mega-caps, Alphabet and Meta each up more than 1%. But it's really the chip stocks that are flagging today. We've been talking about that. Nvidia down 7 and 1/2%, ASML down 4%, and software not looking a lot better. Here, we see Okta down 33% in one day.