Chip stocks fell again, extending a recent losing streak in the technology sector. The decline came amid ongoing concerns over demand and global supply chain disruptions.
The broader market also showed signs of cooling. New data indicated that job growth slowed, raising hopes that the Federal Reserve may ease its aggressive interest rate policy.
Shares of electric vehicle maker Rivian rallied sharply. The company reported stronger-than-expected production numbers, boosting investor sentiment.
Semiconductor companies faced renewed pressure. Analysts pointed to weakening consumer electronics demand as a key factor behind the sell-off.
The jobs report revealed a softer labor market. Fewer new positions were added than economists had predicted, suggesting the economy is slowing.
Rivian’s gains stood out in an otherwise mixed market. The company’s latest delivery figures exceeded forecasts, signaling operational improvements.
Investors remain cautious about the chip industry’s outlook. Trade tensions and inventory buildup continue to weigh on stock performance.
The technology sector’s struggles highlight broader economic uncertainties. Market participants are watching for clearer signals from both policymakers and corporate earnings.
