r/wallstreetbets
can someone explain what happened friday because that was insane
Author blames Friday's crash on strong jobs data, viewing the chip sell-off as panic-driven and a buy opportunity for NVDA and AMD.
- The semiconductor sell-off was driven by macro panic rather than deteriorating fundamentals.
- NVDA and AMD present a strong recovery play as they were dragged down disproportionately by market fear.
- Strong jobs data could lead the Fed to hike rates again, creating a hostile macro environment.
- Broad market weakness and crypto crashes indicate severe risk-off sentiment that could persist.
okay so i've been following the markets for a while and friday genuinely caught me off guard. s&p down 2.6%, nasdaq down over 4% in a single day. haven't seen that since the tariff chaos last year.
from what i understand the jobs report came in way too strong which spooked everyone into thinking the fed might hike rates again. that alone would've been enough but then chip stocks just completely fell apart. marvell down 13%, micron down 13%, amd nearly 11%. nvidia got dragged down 6% for basically no reason.
and then crypto got destroyed too. bitcoin under 59k, eth down 10%, some altcoins lost 30-40% in 24h. gold and silver dumped as well which was weird to see.
honestly if i had to play the recovery i'd be watching nvidia and amd closely, they got hit by panic not by bad earnings or anything. bitcoin holding 59k matters a lot too imo. if it loses that level i'd wait for low 50s before doing anything.
anyway curious what everyone else thinks, is this just a one week thing or are we heading for more pain