The Dow hit all-time highs yesterday. Chip stocks fell 15%. Both things are true and that is the point
Two things happened in markets yesterday and they appear to contradict each other. The Dow Jones Industrial Average hit an all-time high. Broadcom fell 15%, its worst session in over a year, dragging the broader semiconductor index down 2.2%. AMD fell 4%. Intel fell 3%. The surface reading is that the market is healthy and …