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Tech stocks are leading a fresh market sell-off as oil prices spike [Business Insider]
Last broadcom inc. earnings: 3/12 04:15 pm
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US:NASDAQ Investor Relations: investors.broadcom.com
Brent crude jumped on renewed Middle East tensions. The stock market was hit with a wave of selling on Tuesday as traders dumped some of the market's highest-flying tech names and reacted to a spike in oil prices. On the tech side, investors have been wary of high valuations for months, and are anxiously watching for signs that the AI trade is under pressure. A rotation into other parts of the market that began at the start of the year accelerated in Tuesday's session. While many of the top tech and AI names in the S&P 500, stocks in other sectors jumped as investors looked for better deals. FedEx stock was up more than 5%, and retailers including Walmart, Target, and Costco rose as much as 2%. Meanwhile, oil spiked and the Cboe volatility index rose nearly 20% on fresh Middle East tensions after the US said it shot down an Iranian drone. Investors fear that higher oil prices could weigh on the US economy by causing renewed upward pressure on inflation. Brent crude , the in
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