As the ongoing tech sell-off shows no signs of slowing down, UBS’s US retail market making clients experienced significant outflows worth $228 million on Wednesday. The majority of these outflows were seen in semiconductor stocks, which have been consistently accounting for around 20% of retail executed volumes.

Leading the tech outflows were Corning ($36 million), Texas Instruments ($31 million), AMD ($27 million), and Nvidia ($25 million). Meanwhile, Micron Technology was the most actively traded security across the platform and received the highest amount of inflows with $15 million.

The tech sector has been under pressure due to concerns over global economic growth, trade tensions, and a possible recession. As a result, retail investors have been accelerating their profit-taking activities in these stocks. The trend is likely to continue until there is a clear indication of a turnaround in the sector’s fortunes.

The sell-off in tech stocks has also had an impact on other industries, such as consumer discretionary and communication services, which have seen significant outflows as well. This highlights the interconnected nature of the global financial markets and the potential for contagion effects to occur during times of market volatility.