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Why Sensata Technologies (ST) Stock Is Down Today
Shares of sensor manufacturer Sensata Technology (NYSE:ST) fell 7.2% in the afternoon session after semiconductor stocks with significant exposure to the auto sector fell after US President Donald Trump announced a 25% tariff on all vehicles imported into the United States. The move raised concerns about a potential slowdown in global auto production, which would likely dampen demand for semiconductors used in automotive manufacturing.
Why GameStop (GME) Shares Are Getting Obliterated Today
Shares of video game retailer GameStop (NYSE:GME) fell 24.1% in the afternoon session after the company announced plans to raise up to $1.3 billion in convertible debt for corporate purposes, including acquiring Bitcoin. Yes, Bitcoin.
2 Semiconductor Stocks on Our Watchlist and 1 to Turn Down
Semiconductors are the silicon backbone of the digital revolution. Still, they’re subject to swings in the broader economy because customers often stockpile chips ahead of demand, and investors seem to believe that inventory levels are correcting - over the past six months, the industry has shed 16.9%. This drawdown was particularly disheartening since the S&P 500 stood firm.