US stocks were pressured but ultimately closed mixed and well off lows, with underperformance in the NDX, which suffered intraday losses in excess of 3%. Nonetheless, a lot of the weakness was contained to the technology space, and extending on last week’s pressure, as the equal-weighted S&P, RSP, was actually up +0.3%. For the weakness in tech, the renewed pressure could be a factor of a Bloomberg report that highlighted Crusoe, a data centre developer, has paused its development activities on its Wyoming site, which may have added to recent AI valuation fears, particularly in the wake of the Broadcom…
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