Defensive sectors like industrials will outperform during periods of tech weakness
Too little corroboration in the last 3 days to call a trend (3 articles). Watching for it to gain traction. It's spreading across DJI & NDX — a theme crossing asset classes.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"The Philly semiconductor index (+0.60%) did see a modest recovery after its -9.97% slump last week, so it's no longer more than -20% beneath its record high, as it was on Friday."
"Information technology and communication services stocks were among the top gainers, while health care, real estate, and utilities stocks recorded the biggest losses on Monday. Amid a rebound in chip stocks, U.S. stocks settled higher on Monday, with the Nasdaq Composite gaining more than 1% during the session."
"Dow Jones outperforms peers as tech sell-off weighs on S&P 500, Nasdaq. The Dow Jones ended 150 points higher, having traded in a narrow range through the session. However, the S&P 500 and the Nasdaq, both tech-heavy indices, ended the session with losses of 0.4% and 1.3% respectively."