US Stock Market Move | Qualcomm (QCOM.US) fell nearly 6%, tech stock risk suddenly rises, Goldman Sachs Group, Inc. and Barclays issue warnings.

On Tuesday, Qualcomm (QCOM.US) fell nearly 6% to $204.87. On the news front, last Friday, the Nasdaq 100 Index plummeted by 4.8%, with investors rushing to sell high market cap tech stocks and move into defensive assets. Goldman Sachs Group, Inc. and Barclays' trading teams issued warnings, stating that this sharp drop should not be seen as an isolated event and that the current market structural fragility has significantly increased. Mark Newton, the head of technical strategy at the independent research firm Fundstrat in the United States, stated in a report after Monday's close that the day's rally seemed more like a "dead cat bounce" than the establishment of a trend reversal. He also predicted that the market would remain weak at least until late July, with downward risks potentially continuing until October.