Not economic slowdown, semiconductor unwinding triggered by monopoly probe against Nvidia: ED Yardeni

ED Yardeni of Yardeni Research, Inc, says the Nvidia-led tech selloff in the US was not due to slowdown fears but rather news about an impending monopoly probe against the AI powerhouse. Yardeni doesn’t think the economy is slowing. He says, it is just normalising and coming back to the pre-pandemic normal. The unemployment rate won’t be going up a lot. Friday’s employment number is going to be on the surprisingly strong side because July’s number was impacted by the weather.