Goldman's Top Tech Trader On Souring Sentiment Ahead Of Nvidia's $300 Billion Swing

By Peter Callahan, Goldman TMT sector specialist

"A quiet, but big week"

Nasdaq trading heavier to start (down ~115 bps), though, worth pointing out that >1/2 of the NDX is actually trading higher on the day as most of the weakness today is being driving by PDD (down 30%+) as well as broader Semis/HW weakness (think: MU, ARM, SMCI, AVGO types down 2%-5% with only a handful of loose stories to cite – tons of inbounds here today), otherwise, some more notable moves in Crude/Oil +$2.5 and 10yr Yields continuing to making new 52wk lows (now sub ~3.80%).