Analyst: The rise was a delusion – The selling wave is accelerating

On Wall Street, stock indexes remained lower on Tuesday.

The technology-focused Nasdaq fell 1.2 percent as the rise in chip stocks froze. The S&P 500, which tracks large companies, fell 0.5 percent and the flagship Dow Jones index fell 0.3 percent.

The bill originated in South Korea, where Samsung’s the stock remained buoyant for account of. This was also reflected in the United States. Especially the prices of the companies that manufacture memory chips were under pressure. For example Micron decreased by 4.7 percent.

Yesterday, Monday, the chip companies remained on a strong rise. Mizuhon analyst Daniel O’Regan described yesterday’s rise as a distraction.

“The selling wave that started last week in the semiconductor and artificial intelligence sectors is now accelerating again. Investors’ concern is especially focused on companies related to memory chips and artificial intelligence investments,” he writes in his commentary, according to investment media Barrons.

The stock market was also weighed down by the renewed tightening of the situation in the Middle East, which raised the price of oil. The U.S. Treasury Department is withdrawing an exemption that allowed the sale of Iranian oil in response to the attacks in the Strait of Hormuz.

About chip companies Nvidia rose by 0.7 percent. AMD decreased by 6.5 percent, Broadcom 0.8 percent and Intel 9.7 percent.

Of the other large technology companies, the strongest increase was Metawhose share advanced by 2.6 percent.

Elon Musk’s space company SpaceX decreased by 6.8 percent. Electric car company Tesla weakened by four percent.

A quantum computer company listed on Wall Street IQM decreased by 7.3 percent. Trading with the company’s certificates of deposit began on Thursday of last week.

Network equipment manufacturer on the New York Stock Exchange Nokia weakened by 5.3 percent. Nokia’s depository receipt or ADR is listed on the New York Stock Exchange.