2024-04-19 08:50:00 ET
Shares of technology hardware and chip names Arm Holdings (NASDAQ: ARM) , Indie Semiconductor (NASDAQ: INDI) , and Logitech Holdings (NASDAQ: LOGI) fell this week, down 16.9%, 13%, and 10.1%, respectively, through Thursday trading, according to data from S&P Global market Intelligence .
The technology sector, in general, ran into resistance this week as long-term interest rates rose to yearly highs on the back of last week's "sticky" inflation readings. Moreover, technology bellwethers ASML Holdings and Taiwan Semiconductor Manufacturing (NYSE: TSM) had their earnings reports this week, throwing some cold water on the sector's early-year optimism.
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Why Arm Holdings, Indie Semiconductor, and Logitech International All Slumped This Week