Tech stocks, the Japanese yen, copper and others are all reversing

By Joseph AdinolfiFollow

Last Updated: July 27, 2024 at 5:12 a.m. ET
First Published: July 26, 2024 at 4:55 p.m. ETShareResize

Some of the year’s most crowded trades have hit the rocks recently.PHOTO: AFP VIA GETTY IMAGES

Referenced Symbols

• SOXX2.15%
• NDX1.03%
• USDJPY-0.12%
• 180460-0.38%
• S00-0.19%
• C00-2.55%
• W00-0.14%
• HG00-0.35%
• HSI0.10%
• GOOGL-0.17%

The selloff in U.S. semiconductor and megacap stocks has sucked up most of investors’ attention over the past couple of weeks. But they aren’t the only momentum trades that have stopped working.

Across financial markets, bets that had reliably minted profits all year have come undone in July.