Risk on, risk off
Nvidia’s rally turned rout may have drawn most of the spotlight, but some investors suspect there was something else driving today’s risk-off mood.
After stocks turned sour on Wall Street overnight, with any positive sentiment around Nvidia’s historic earnings proving short-lived, local tech investors this morning braced for the impact.
But the open produced a more complex picture, and it was the speculative miners, not tech names, that fell the furthest.
Critical minerals producers like Iluka Resources (-11.55%) and IperionX (-9.57%) were hammered, as were lithium miners Liontown (-8.41%) and Pilbara Minerals (-6.92%) and uranium plays Deep Yellow (-8.5%) and Paladin Energy (-8.2%).
All sectors flashed red, but tech stocks — which ended 1% lower — sat somewhere in the middle of the pack.
