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US contracts fall amid tech sell-off
Futures for the S&P 500 declined by 0.4%, amid increased sales of technology stocks following lower-than-expected earnings results from Broadcom, which lost more than 13% of its value. Shares of CrowdStrike also dropped by 10%, with semiconductor companies' stocks being heavily affected, amid concerns over escalating tensions between the United States and Iran. Despite the decline, analysts believe the market is undergoing a natural correction after a strong upward rally.
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