Seana Smith checks out several stocks and sectors trending in the after-hours trading session, including the semiconductor industry following President Biden's export restrictions on China.
Bank of America Senior Semiconductor Analyst Vivek Arya assesses the outlook of semiconductor stocks amid waning demand and export restrictions on China
Since the stock market bottom during the Great Recession in 2009, tech growth stocks were the driving force on Wall Street. Historically low lending rates combined with the Federal Reserve's quantitative easing program created a plentiful pool of cheap capital that growth-oriented businesses used to fuel expansion. While a lot of the wreckage is due to the collapse in speculative plays, many otherwise solid tech companies whose runway for growth remains undiminished have also been pulled down.