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The U.S. stock markets experienced a decline, particularly in the technology sector, following a roughly 4.8% drop in semiconductor stocks, despite positive earnings results from companies like TSMC, which saw a 77% increase in their quarterly profits. The significant weighting of chip stocks in the indices had a substantial impact on market performance, as semiconductor manufacturers were among the biggest losers, even though expectations remained for a strong earnings season with a 23.7% rise in profits for S&P 500 companies and a 65.5% increase in the technology sector. Despite positive economic data, the market continued to fall amid ongoing volatility in the automotive and oil sectors, while analysts expect the upcoming earnings season in the second quarter to remain strong.
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