Nasdaq drops 2% as chip and software stocks sell off

Stocks slid on Friday afternoon, with the Nasdaq Composite down 2.37% and the S&P 500 off more than 1% as chip, software and cybersecurity stocks sold off. The Dow, which opened in the green, was down about half a percent. Yahoo Finance's Jared Blikre charts the damage: the VIX jumped about four points to 20.41, its highest level in months, WTI crude neared $100 and Brent hit about $110. Tech is down 3% on the day and 7.7% for the week. Blikre also walks through the classic bull trap pattern he's seeing in the S&P 500, the Nasdaq and Bitcoin, and why the semiconductor ETF slipping below $500 is worth watching into next week. Market Domination, Market Domination Overtime and Asking for a Trend are live weekdays 3-5pm ET with Yahoo Finance Host Josh Lipton. 00:00 Stocks slide as chips sell off 00:16 The Nasdaq drops more than 2% 00:33 The VIX tops 20 01:20 Oil nears $100 01:51 Software and cybersecurity join the selloff 02:07 Tech is down 7.7% this week 02:25 A classic bull trap 02:42 Chip stocks slip below a key level #StockMarket #Nasdaq #TechStocks == AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors. 👉 https://finance.yahoo.com/about/promos/gold/alphaspace?ncid=100003571

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