Another manic market week was punctuated by a tech wreck that pressured the S&P 500 and NASDAQ indexes. Nothing was working in the technology sector: chipmakers, neocloud providers, and hyperscalers were all down, as investors grew impatient or just tired of the artificial intelligence (AI) trade.
However, energy stocks were higher as the conflict in the Strait of Hormuz intensified. Financial stocks also got a boost as many banks reported strong earnings, as expected.
