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Tony Daltorio

INSANE: Did the japanese yen cause the tech selloff - The Real Truth

Japanese Yen United States Japan Hedge Funds

On Wednesday, stock indices recorded their worst day in more than 18 months, after lackluster earnings results from index heavyweights Tesla (TSLA) and Alphabet (GOOGL) deepened a technology sector sell-off.

The S&P 500 Index ($SPX) fell 2.3%, its worst day since December 2022, while the tech-heavy Nasdaq Composite ($NASX) gave up 3.6% to record its worst day since October 2022. The losses in both were driven by the same Big Tech stocks — and artificial intelligence (AI) stocks, in particular — that have driven the bulk of the stock market's gains this year.

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