Tech Stocks Slide as Market Waits for Data | Business and Finance News

Stocks are wobbling today as chip sector weakness drags down the Nasdaq, with Arm and TSM taking hits after a strong rally yesterday fueled by better-than-expected inflation data and solid bank earnings. Selling pressure started in Asia, notably with SK Hynix’s plunge, despite TSM’s record-breaking quarter. Investors eye key data today — retail sales and jobless claims — plus earnings from U.S. Bancorp and Netflix. The big question: Is the economy slowing just enough to tame inflation without triggering a recession? Strategists say broader market gains need interest rates to stabilize or fall. Meanwhile, oil prices hold steady near $84.60 a barrel as tech struggles and energy stays calm. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f9d5f714ca4eb193