The story today
1Quantum tech tumbles. IonQ dropped -10%, leading a broad selloff in semiconductors and optical components as IONQ, TTMI, CIEN, LITE, and SMTC all fell between -8.3% and -10%.
2Defensives outperform. Defensive stocks rose +3.6% while Materials fell -5%, widening the risk-off tilt as 202 of 999 stocks declined more than 2.5% this week.
3Risk remains elevated. 747 risk signals span 444 companies despite no major earnings expected for two weeks, suggesting technical or macro headwinds rather than earnings-driven moves.
