Hang tough with your eight screens, stock traders. This week is far from over, and President Trump seems determined to remind everyone of that. 

Here are several things that caught TheStreet's attention during Tuesday ugly session. 

Swift Market Reversal 

What started as a promising session today ended with a thud as investors digested Trump's ouster of Rex Tillerson as Secretary of State and the decision to block Broadcom's (AVGO) deal for Qualcomm (QCOM) . The Dow Jones Industrial Average traded about 1.45% off its highs of the session, finishing at 25,007.03. The benchmark index is now off roughly 6% from its late January closing high. 

Will investors begin to price more political risk into their thinking on companies? Perhaps, suggests one top expert at JPMorgan TheStreet talked with Tuesday. Even still, with the outlook for corporate earnings strong it will be difficult for investors to become too bearish on stocks, TheStreet's senior editor John Pickering thinks.  

Source: TheStreet
Source: TheStreet

Semiconductor Stocks Stay Hot

So much for Action Alerts Plus holding Broadcom not being able to buy Qualcomm denting the remarkable run in semiconductor stocks. 

The iShares PHLX Semiconductor ETF (SOXX)  reached a new 52-week high early in the session Tuesday, to trade hands for as much as $198.84 after the market open. That's the highest the ETF has gotten since March 2000, reports TheStreet's Kinsey Grant. As you can see below, the ETF's top-10 holdings are a whose who of momentum tech names. 

Top-performing semiconductor names continue to be Action Alerts Plus holding Nvidia (NVDA) , Micron (MU) and Intel (INTC) .

Source: TheStreet
Source: TheStreet

General Electric Gets Whipped

The surprise rally in General Electric's (GE) stock last week now looks overdone. 

Shares of the struggling industrial giant tanked 4.5% today after a vicious sounding note out of JPMorgan. General Electric's earnings per share this year will come in "a step lower" than management's guidance of $1.00 to $1.07 a share, says the investment bank. 

The question now on everyone's mind: will GE's stock drop below $10? And if it does, will that spur the type of selling that drives the stock down to the Great Recession low around $7.00?

Reading this and think there is no way GE's stock hits $7.00? Fire me a tweet @BrianSozzi and be sure to copy in @TheStreet.

Source: TheStreet
Source: TheStreet

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