US Open: Bearish morning on Wall Street. Underwhelming sales of semiconductors

• Wall Street opens lower after Labor Day
• Indices plunge in the face of weak ISM manufacturing data
• Super Micro Computers rebounds after wave of sell-recommendations (+2,8%)
• Nvidia hits its lowest since Aug 13

Post Labor Day US stock market reopened with significant reserves after a sluggish Monday in Eurasia: Nasdaq and small-cap Russell 2000 are down by 2%, whilst S&P500 and DJIA retract by 1,4% and 1% respectively. The opening on the US stock market was followed by the release of weaker-than-expected ISM Manufacturing data. Wall Street will likely live through further tension before NFP, scheduled for Friday. 

Following a flat opening, Nasdaq quickly plunges, mostly due to semiconductor sellout. Source: xStation5

The performance of Nasdaq has been significantly impeded by the reports on sales in the semiconductor sector. The data from Semiconductor Industry Association came in below seasonal trends, driving bearish performance of tech stocks this Tuesday. 

Company news:

• Nvidia kicked off with the bearish gap of 2%, which later escalated into the resell driving stock’s price down to its lowest level from mid-August (currently 111,69 USD; -5,82%).
• Super Micro Computers rebounds by 2,88% after the company addresses the sell-recommendations. Chief Executive reassures investors that SMCI won’t experience delays around annual filing and that earnings results won’t differ from those from last fiscal.
• Intel takes a hit after semiconductor sales report despite bullish opening. Company announcing selling Altering chip unit drove stock’s price up upon opening, but the pessimistic outlook on the industry overshadowed ambition of its restructuring plans
• Boeing suffers a drop of 7,8% after unison or sell-recommendations surrounding the safety issues and paused testing of 737, as well as persisting cash flow difficulties