Nasdaq 100: Tech Shares Retreat From File Excessive on Revenue-Taking, Valuation Issues…

The Nasdaq 100’s pullback adopted notable weak spot in high-growth names. Applovin dropped 5.14%, and Axon Enterprise slid three.42%. Technique Inc. and Palantir fell over 1%. Semiconductor names like Broadcom and Nvidia additionally slipped, dragging on index efficiency.

In the meantime, AMD surged greater than 6% following renewed bullishness on AI chip demand. Apple added 1.28%, serving to to cushion the tech-heavy index. But the combined bag suggests some profit-taking is underway after a robust run within the sector, particularly with many shares buying and selling close to 52-week highs.

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Media shares led the cost. Paramount Skydance soared over 22%, logging its greatest day since 2020 on unusually heavy quantity. Warner Bros Discovery jumped almost 7% after insider shopping for exercise boosted confidence. Webtoon Leisure rocketed almost 90% after a robust Q2 earnings report and a content material cope with Disney.

Elsewhere, defensive names and client staples gained floor. PepsiCo, Paychex, and Comcast all rose greater than 1%, with traders rotating into names much less uncovered to high-rate environments. Apple, Intel, and Qualcomm additionally posted strong positive aspects, contributing to broader index energy.

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