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US tech stock breadth weakens as fewer firms trade above 50-day average
Tech-stock momentum is weakening in the US as market breadth falls and crypto-related shares slip amid risk-off sentiment.
Market data showed only 37% of tech stocks in the S&P 500 are trading above their 50-day moving average — the weakest breadth since April.
Recent tech-sector selling has weighed on market momentum, with crypto-linked shares like Coinbase Global Inc. and MicroStrategy Incorporated down 5% and 6% respectively amid broader risk-off flows