Retail investors are dumping stocks at the fastest pace since the COVID crash

Individual investors sold stocks at the fastest pace since the COVID crash as of July 29, per MarketWatch, rejecting the dip-buying advice of strategists like Fundstrat's Tom Lee, who urged buying semiconductor stocks on July 8. The flight comes as the PHLX semiconductor index fell 18.2% in July through mid-July and the Nasdaq neared a 10% correction from its June peak.