[NYSE] Broad Tech Selloff as Rate Cut Expectations Weaken... Quantum Computing Stocks Plummet

On the 5th (local time), U.S. quantum computing-related stocks plunged uniformly in the New York Stock Exchange. As a stronger-than-expected labor market trend was confirmed, weakening expectations for the Federal Reserve's (Fed) monetary policy easing, selling pressure spread across the broader technology sector. In particular, quantum computing stocks, which had high expectations for future growth, took a massive hit.

◆ Major Quantum Computing Stock Fluctuations The stock that recorded the largest drop on the New York Stock Exchange today was Qutek Quantum, which plummeted 24.07%. Following this, other major quantum computing companies showed continuous weakness.

• Rigetti Computing: 14.40% decrease
• Inflexion: 14.09% decrease
• D-Wave Quantum: 13.71% decrease
• IonQ: 13.52% decrease
• Quantum Computing: 11.08% decrease
• Xanadu Quantum Technologies: 10.79% decrease

◆ New York Stock Exchange Index Trends Due to the shrinking investment sentiment across the broader U.S. stock market, major indices also fell uniformly. As selling pressure centered on tech stocks intensified, the Nasdaq index took a particularly hard hit.

• Dow Jones 30 Industrial Average: Closed at 50,866.78, down 695.15 points (1.35%) from the previous session
• Standard & Poor's (S&P) 500 Index: Recorded 7,383.68, down 2.65%
• Nasdaq Index: Trading ended at 25,709.43, down 4.18%

◆ Market Outlook and Future Variables Concerns are being raised in the market that if expectations for interest rate cuts retreat, the valuation burden on growth stocks could increase. In particular, quantum computing stocks have traditionally been driven by expectations for future industry growth rather than current earnings; therefore, they show a characteristic of reacting very sensitively to changes in interest rates and investment sentiment.

Some predict that the future path of the Fed's interest rates and whether investment sentiment in tech stocks recovers will act as key variables determining the short-term stock price trends of quantum computing-related stocks.