As goes tech, so goes the market.
We saw it on Tuesday. In the middle of the morning, semiconductor stocks — many of which have advanced 20 percent or more this quarter — began weakening, and the rest of the market followed suit.
The VanEck Vectors Semiconductor ETF closed down 1.4 percent, its poorest showing since Feb. 9, during the height of the craziness around inflation and volatility worries.
What does this mean? With two weeks left in the quarter, traders are nervously eyeing hefty gains in technology stocks as it becomes increasingly clear that the market leadership is very stretched.