Nasdaq Hits Low Amid Deteriorating Consumer Sentiment Data
The tech-heavy Nasdaq led Wall Street declines on Tuesday, hitting a six-week low after fresh economic data indicated a deterioration in consumer sentiment and investors braced for the potential impact of tighter U.S. trade curbs on Beijing. A Conference Board report showed an index tracking consumer confidence stood at 98.3 in February compared with an estimate of 102.5, according to economists polled by Reuters. The S&P 500 technology sector is on track for its first quarterly decline since July 2023, if losses hold.
- The recent surge in geopolitical tensions and tightening trade curbs may lead to a broader market correction, as investors become increasingly cautious about the global economy's trajectory.
- How will the ongoing supply chain disruptions and production challenges in the semiconductor sector impact the technology industry's growth prospects in the coming months?