Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Is the US tech stocks rally ended?

ByFederica Montella
Published 21/07/2023, 13:00
Updated 28/07/2023, 11:55

Is the US tech stocks rally ended?

Yesterday has been a negative day for the US tech stocks market.

The tech-heavy Nasdaq Composite has gone down by 2.05% marking the biggest one-day decline in more than four months.

Shares of Tesla and Netflix (NASDAQ:NFLX) were the most shorted yesterday, and they respectively reported a loss of 9.7% and 8.4%.

The electric vehicle maker, Tesla (NASDAQ:TSLA), has mainly gone down after Wednesday's report about the profit margins that slipped due to the continued price reduction of its cars.

For Netflix, the reason why its shares dropped, is the disappointment regarding the miss of the expected sales.

Investors are now questioning if the bull run, boosted by the hype for Artificial Intelligence, has ended.

$2.4 Trillion Options expire today

Today, Friday 21 July is a special day for the US stock market because about $2.4 trillion of options contracts are going to expire.

This event is called OpEx and will add volatility to the markets due to possible actions that Wall Street's managers will do when the contract's mature date has been reached.

It is worth mentioning that on Monday, 24 July, will take effect the special Nasdaq stock rebalance where the big seven tech stocks will see their dominance reduced, inside the index, in favour of the small caps.

Follow me

If you find my analysis useful, and you want to receive updates when I publish them in real-time, click on the FOLLOW button on my profile!

Latest comments

Eye opener & thought provoking article. Thanks with Regards Fedrica Montella.
Yep end of story! Start again in october
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.