Why Arm Holdings Stock Was Falling Today
Shares of Arm Holdings (NASDAQ: ARM), the chipmaker best known for its low-power CPU architecture, were heading lower today, as it was caught up in the broader sell-off triggered by weak economic data last week, including rising unemployment and increasing fears of a recession. This morning, a rate hike by the Bank of Japan seemed to spark a wave of selling due to heavy borrowing in the yen to buy other assets, known as a carry trade.
While there wasn't any company-specific news out on Arm, the semiconductor sector has been highly volatile, and two of its key customers faced negative news over the weekend.
As of noon ET, the stock was down 3.2% after falling as much as 14.8% near the open.
Source Fool.com
