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Global chip selloff pressures Nasdaq 100 futures near key 50-day moving average support.

Market News
07 Jul 2026
FXEmpire
View Source
Bearish
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Global semiconductor stocks fell sharply overnight across major markets, dragging Nasdaq 100 futures lower ahead of the U.S. open. Despite strong earnings like Samsung's record profit, chip stocks including SK Hynix, Tokyo Electron, and Taiwan Semiconductor declined, signaling heavy selling pressure. This selloff tests the recent gains in tech indexes after Monday's rally, with the Nasdaq 100 approaching its 50-day moving average support at 29,590.29. Traders will watch if buyers step in to hold these levels or if selling extends, potentially pushing the index toward lower support levels. The U.S. trade balance report released Tuesday will also influence market direction.

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