Stocks Halt Rally as Nvidia, ASML Getting Crushed: Markets Wrap
- Global equity optimism flashes sell signal, BofA survey shows
- Rubner sees more room in S&P advance as traders cancel hedges
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Stocks got hit as a disappointing outlook from Europe’s most-valuable tech company and concern about tighter US restrictions on chip sales spurred a selloff in the industry that has powered the bull market.
Equities dropped from all-time highs, with the S&P 500 down almost 1%. The Nasdaq 100 slipped 1.4%. A closely watched gauge of semiconductor firms saw its worst plunge since early September. US-traded shares of ASML Holding NV plummeted 16% after the Dutch giant cut its guidance for 2025. Nvidia Corp. sank 4.5% on news US officials have discussed capping sales of advanced AI chips from the company and other American firms to some countries.