Here is a snapshot of the US stock market today, Friday, December 12, 2025, highlighting the “Tech Wreck” narrative driving the major declines you are seeing.
Market Summary: The Great Rotation Intensifies
The divergence in the market has widened significantly today. Investors are aggressively rotating out of high-flying technology and AI stocks—sparked by disappointments from key sector leaders—and moving capital into safer, cyclical sectors (like the industrials supporting the Dow).
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NASDAQ: -1.76% (Bearing the brunt of the sell-off)
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S&P 500: -1.17%
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Dow Jones: -0.50% (Outperforming relatively, thanks to industrial support)
The sea of red in your list is largely driven by a “contagion effect” from two major earnings stories (Broadcom and Oracle) combined with specific analyst downgrades.
1. The Anchors (Dragging the Sector Down)
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Broadcom (AVGO) [-11.25%]
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The Story: Broadcom is arguably the biggest weight on the tech sector today. Despite beating earnings and revenue expectations, the stock is being punished for “imperfect” guidance regarding margins. After rallying ~58% this year, investors were priced for perfection. When management hinted that AI chip margins might not expand as fast as hoped, it triggered a massive “sell the news” event.
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Oracle (ORCL) [-4.77%]
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The Story: The selling pressure from Wednesday’s earnings report has not abated. Investors remain spooked by Oracle’s massive capital expenditure (spending) plans to build out AI data centers. The market is worried that the costs are rising faster than the immediate profits, leading to a continued re-rating of the stock.
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2. The “Sympathy” Sell-Off (Semis & Storage)
The weakness in Broadcom and Oracle has spooked investors in the entire hardware and semiconductor supply chain.
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Micron (MU) [-6.83%] & Western Digital (WDC) [-8.84%]
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The Story: These memory and storage giants are falling in sympathy with Broadcom. The fear is that if Broadcom is seeing margin pressure, other hardware players will too. Despite some recent analyst upgrades for Micron, the broader sector sentiment has turned negative today, leading to profit-taking.
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AMD [-4.72%] & Lam Research (LRCX) [-4.78%]
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The Story: As bellwethers for AI chips and chip-manufacturing equipment, these stocks are highly correlated with Broadcom. When the market decides to “de-risk” from AI hardware, these are the first names sold via ETFs and sector rotation.
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3. Company-Specific News
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Ciena Corp (CIEN) [-10.45%]
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The Story: Ciena reported Q4 earnings today. While headlines initially showed they “crushed” earnings estimates and saw record sales, the massive drop suggests a classic “sell the news” reaction or disappointment with forward-looking details hidden in the guidance. In a nervous market, even good earnings aren’t enough to sustain high valuations.
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Roblox (RBLX) [-4.98%]
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The Story: This decline is driven by a specific analyst move. JPMorgan downgraded Roblox today from “Overweight” (Buy) to “Neutral” and cut their price target. The analyst cited valuation concerns after the stock’s recent run-up, prompting traders to lock in profits.
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Corning (GLW) [-7.62%]
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The Story: Corning had rallied for six straight days prior to today. This drop appears to be a technical correction and profit-taking event as the stock hit resistance levels, exacerbated by the general negative sentiment in tech hardware.
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Palantir (PLTR) [-4.55%] & Nebius NV (NBIS) [-5.17%]
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The Story: These are high-beta “pure play” AI stocks
Tech Wreck: Stocks continue to tumble with the NASDAQ now down -1.78%
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