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How AI trade unwind and US-Iran tensions drove Philly Semi down 7.5% — Market Wrap Jun 10
Today's AI insights from 7horns.ai reveal a sharp retreat in tech and semiconductor stocks, with the Philadelphia Semiconductor Index plunging 7.54% and Nasdaq futures dropping 1.27% ahead of the US open. The market is reacting to an unwinding of the AI trade amid escalating US-Iran military tensions and hotter-than-expected Japan producer prices. Megacap tech names suffered notable pre-market declines: Apple fell 3.64% after a disappointing WWDC, Tesla dropped 1.51%, Microsoft slid 1.34%, and Nvidia declined over 2%. Applied Optoelectronics showed early signs of recovery, rising 1.88% after…
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