There are growing fears of a stall in the global economic recovery, follow one recent data from the US. The housing market over there, in particular, seems to be struggling, with the news that sales of new homes fell to their lowest level ever in May.
Most PC-related shares are quick to respond to changes in the macroeconomic situation as sales of PCs are heavily influenced by end-user demand. As a consequence, following the housing news and a not especially view of the economy from the Federal Reserve, as it announced it was going to keep interest rates at their historical low, investors got nervous.
Several of our shares fell by nearly ten percent over the course of the week, including NVIDIA, Ingram Micro and AMD. None of them escaped the general drop, but UK low-power chip designer ARM continued to out-perform the overall market.
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