Semiconductor stocks led the decline
End-of-June Rebalancing Could Accelerate AI Stock Sell-offs - Mid-Year Demand-Supply and July Market Turning Point
The end of June marks the quarter and half-year end, a time when the market tends to anticipate rebalancing selling by institutional investors. Especially in the first half of this year, AI and semiconductor stocks lead the market, so toward month-end profit-taking and asset allocation adjustments tend to pile up, resulting in higher-than-usual volume.