Chips, software stocks drag on tech sector following Fitch downgrade

The rally in technology stocks all year has slammed on the breaks following a downgrade of the U.S. credit rating from Fitch late Tuesday, and by Thursday, semiconductor and software stocks were still selling off, setting up the prospect of a correction.

The last time the U.S. credit rating got downgraded, Apple Inc.’s AAPL Steve Jobs was busy pitching the new iCloud service while preparing to leave the company he founded for a second time. This time around, Fitch Ratings lowered its rating of U.S. government debt to AA+ from AAA, and Apple, which reports earnings after the bell Thursday, has seen shares decline nearly 2% since the downgrade.On Aug. 5, 2011, Standard & Poor’s downgraded the U.S.

A tech stock decline this August would bring to a halt a seven-month streak of gains that hasn’t been seen in almost a decade, as the prospect of gains from artificial intelligence software has been a driver all year even with the specter of a potential recession.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Fitch downgrades US debt rating | CNN BusinessJUST IN: Credit rating agency Fitch has downgraded the US rating from its highest AAA rank to AA+
출처: CNN - 🏆 4. / 95 더 많은 것을 읽으십시오 »

Stock futures slide after Fitch's U.S. downgrade sours the market moodU.S. stock futures stumbled after markets were rattled by a downgrade to the U.S. government's credit rating.
출처: MarketWatch - 🏆 3. / 97 더 많은 것을 읽으십시오 »

Stock Market Today: Dow Futures Fall After Fitch Downgrades U.S.Stock futures and global equities point to markets extending a selloff after Fitch downgraded the U.S.'s credit rating, and as investors continue to parse earnings reports. Follow our live analysis:
출처: WSJ - 🏆 98. / 63 더 많은 것을 읽으십시오 »

Stock Market News: Fitch downgrades U.S., stocks sink, ADP adds 324,000 jobsStocks fell after Fitch Ratings cut the U.S. credit rating citing heavy debt and a weak fiscal position, ADP private employers added 324,000 jobs in July ahead of Friday’s government report, the Mega Millions jackpot soars past $1 billion after no winner and AMD teases a chip made especially for China. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
출처: FoxBusiness - 🏆 458. / 53 더 많은 것을 읽으십시오 »

Stock market news today: Indexes fall as Fitch downgrades US debtStocks fall as Fitch's downgrade of US debt rating rattles confidence
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Stock Market News Today: Dow drops 350 points after Fitch downgradeUS stocks fall as Dow sheds nearly 350 points after Fitch credit-rating downgrade
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »