TORONTO — Canadian and U.S. stock markets fell on Friday, as tech stocks plummeted and employment data spurred fears of higher interest rates.
Mona Mahajan, head of investment strategy at Edward Jones, said stock markets fell on a combination of two factors.
“We’re seeing a pretty dramatic sell-off in the U.S. semiconductor index in particular. Obviously, that index has had a parabolic move higher. Semiconductors have been really the star of the AI story since the start of the year and certainly over the last few weeks in particular,” she said.
Tech stocks dragged the broader market lower as companies that had powered the S&P 500
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