CNBC Daily Open: Tech sell-off? Investors could just be taking profit and enjoying the summer

If you person immoderate U.S. exertion stocks successful your portfolio (and let's look it, who doesn't?), you mightiness privation to look away.

For the 2nd time successful a row, tech stocks dragged markets lower, with the Nasdaq Composite slipping 0.67%. Juggernauts specified arsenic Apple, Amazon and Alphabet were much meh-nificent than magnificent, falling much than 1%.

Palantir — the standout S&P 500 stock, having much than doubled truthful acold this twelvemonth — had its sixth consecutive time successful the reddish and mislaid its spot among a ranking of the 20 astir invaluable U.S. companies.

While Palantir's descent was partially triggered by a study from abbreviated seller Andrew Left's Citron Research, which called the institution "detached from fundamentals and analysis," determination was nary azygous trigger for the broader pullback.

Investors could person been spooked by OpenAI CEO Sam Altman's caution astir an AI bubble forming, though immoderate analysts quality that assertion. "In our presumption the tech bull rhythm volition beryllium good intact astatine slightest for different 2-3 years," said Wall Street tech bull Dan Ives.

Or it could beryllium thing benign, similar traders locking successful profits. "Tech stocks," said Carol Schleif, main marketplace strategist astatine BMO Private Wealth, "have had an incredibly beardown tally – with immoderate up implicit 80% since the aboriginal April lows."

Summer, aft all, is acold from over. Some investors mightiness person conscionable wanted to currency retired for different circular of margaritas.

Red carpet for Putin, commercialized alleviation for China, penalties connected India: Inside Trump’s peculiar argumentation playbook

U.S. President Donald Trump is pursuing an antithetic strategy — courting Russian President Vladimir Putin, holding occurrence connected Beijing, each the portion turning the screws connected India.

Despite India being 1 of the earliest nations to prosecute successful negotiations with the Trump administration, determination is inactive nary motion of it sealing a woody with America. New Delhi is present besides staring astatine a secondary tariff of 25% oregon a "penalty" for its purchases of Russian lipid that is acceptable to travel into effect aboriginal this month.

— Anniek Bao