Just noticed the market rotation happening that day - tech stocks getting hit pretty hard while other sectors held up better. The Nasdaq 100 fell to a 2-week low, down over 1%, while the Dow actually managed to stay slightly green. Looks like money was moving out of the usual AI and chip plays.

The rotation out of high-flying semiconductor stocks was the main story. AMD took a massive hit, down 15%+ after their Q1 sales guidance came in weaker than expected at $9.8B. Other chip names like Sandisk, Micron, and Western Digital all dropped 7-9%. Even crypto-exposed stocks got caught in the selloff - Bitcoin was down 3%, and companies like Riot and Galaxy Digital followed suit.

There were some bright spots though. Super Micro Computer jumped 13%+ after crushing Q3 expectations with a $12.30B+ forecast. Eli Lilly was up 10% on solid earnings and raised guidance. And Texas Instruments' deal to acquire Silicon Labs for $231 per share sent that stock up nearly 50%.

Economic data was mixed - ADP jobs came in softer than expected at 22K vs 45K forecast, but the ISM services index held steady. The rotation between sectors seemed to be the dominant theme that day, with investors clearly reassessing where they wanted to be positioned going into earnings season.