It looks like either "semis down - software up" or the other way around. Or, "AI down" or "AI up". MSFT is treated like software (even though it has more going for it), and GOOG gets beaten up either way. Overall, it looks like the market is clueless - contrary to many statements of late saying just follow the market on the SaaS stock regardless of what common sense tells you. I'm not sure the semis will be down for too long though. Dip buying will resume shortly if recent history is any guide.