Wild market swings:

A swing worth $2 trillion in just 70 minutes.

In the first 30 minutes, $1.1 trillion was wiped out from the U.S. market, but $930 billion was added back in the next 40 minutes.

The S&P 500 rose +0.83% at the open, adding $560 billion.

It then collapsed by -1.27% in just 30 minutes, wiping out $860 billion. It has now added back $680 billion, rising 1% from the bottom.

The Nasdaq saw even sharper swings.

It opened up +0.94%, adding $333 billion, then collapsed by -2.29% in 30 minutes, wiping out $820 billion. Since then, it has added back $420 billion, rising 1.22% from the low.

Meanwhile, the Dow Jones is sitting at new all-time highs.

The Dow Jones rose +1.50% today, adding $340 billion, while the Russell 2000 rose +1.44%, adding $40 billion.

Technology stocks are seeing sharp volatility as investors grow increasingly uneasy about high valuations in AI names and chip segments, especially as the Federal Reserve signals more interest rate hikes rather than cuts.

Higher interest rates hit growth stocks hard because their value depends on future earnings, which are discounted more when borrowing costs rise.

This is pushing money out of the tech sector and into the Dow, where non-tech defensive names with steady earnings and dividends appear safer in this environment.
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