To me it seems like tech profit taking/sector rotation on the heels of apparently disappointing TSLA and NFLX reports. Don’t think TSM had much impact, as SMCI did a prerelease and smashed consensus, indicating at least for the short term that the AI play remains intact.
Take a look at DOW jones index. Was green. Made 52 week highs today.
Take a look at SP500 Equal weight index (SPXEW). Basically flat on the day.
Take a look at VIX. Only up 1.53% on a day that QQQ was crushed -2.31%?
Put it all together, doesn’t seem like any true red flags for a “new bear market downturn”. Still looks to me like a tech pullback during a bull market.