2026-10-08 · Chips Slip, Money Moves to Real Assets
A chip-led pullback hit the Nasdaq while the Dow held up, and the money leaving momentum tech is showing up in real estate and steady cash-flow names.
The Signal
The S&P 500 and Nasdaq fell for a second day as semiconductors sold off on renewed doubts about AI spending, with oil and Treasury yields both rising. The Dow finished slightly higher. Money flow across our universe still leans to selling, but far more stocks are making higher lows than lower lows. Bullish turns cluster in real estate and staples; bearish turns sit in technology and a few momentum names.
The Noise
Two down days near…
The skinny
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