WS #10530
Severe semiconductor selloff with MU -9.9% dragging the sector, while IBM surges +7.8% on quantum optimism and analyst upgrades, indicating a rotation from semis to legacy tech. Alibaba has filed a lawsuit against the US Department of Defense challenging its designation as a 'Chinese military company', which could impact BABA and Chinese ADR sentiment.
Semiconductor selloff and tech rotation
Severe semiconductor selloff with MU -9.9% dragging the sector, while IBM surges +7.8% on quantum optimism and analyst upgrades, indicating a rotation from semis to legacy tech.
Alibaba has filed a lawsuit against the US Department of Defense challenging its designation as a 'Chinese military company', which could impact BABA and Chinese ADR sentiment.