Tech stock under pressure: AMD slumps 15.7%, fresh selling in software stocks drags US markets lower
US markets traded mixed on Wednesday as renewed selling in technology stocks — led by a sharp fall in Advanced Micro Devices — weighed on sentiment despite gains in several non-tech sectors, according to AP.
Advanced Micro Devices plunged 15.7% even after reporting stronger quarterly profit than analysts expected and issuing revenue guidance for early 2026 that also topped estimates. The decline came as investor expectations remained elevated after the stock had doubled over the past 12 months.
