Nasdaq-100 Drops 5% as NVIDIA and TSMC Post Revenue Gains
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The Nasdaq-100 fell 5% in the week ended Oct. 16 even as NVIDIA and Taiwan Semiconductor Manufacturing Company Limited posted strong quarterly revenue growth, underscoring the gap between stock performance and company sales. The PHLX Semiconductor Index was 11.6% below its Oct. 6 peak as of Oct. 14. That reading and the Nasdaq-100’s weekly loss cover different periods: one measures the distance from a peak, while the other measures a decline over a single week. Large technology companies carry substantial weight in broad U.S. stock indexes, making their share prices consequential for the wider market.
Source: TokenPost
