Pre-Market Report – Wednesday 24 June: US markets slip - Chips fried - SPI up 35 - Resources to suffer - Korea in focus.

US stock indices closed negative on Tuesday amid a selloff in heavyweight chip producers. The S&P 500 fell 1.4%, and the Nasdaq 100 lost 3.3% as AI infrastructure companies, including semiconductor and memory chip producers, tanked on increasing skepticism that AI spending by hyperscalers will not meet returns. Also, SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, a sign that demand for compute could slow. Nvidia (-4.2%), Broadcom (-3.1%), Qualcomm (-8%), AMD (-5.8%), Micron (-13.2%), and Sandisk (-11.2%) posted losses. Tesla lost 5.8% and Oracle slipped 5.8%. Meanwhile, SpaceX added 1%, rebounding as it issued bonds only one week after its IPO, adding to caution on colossal capital expenditure. Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy. Gains for healthcare and consumer defensive companies aided the Dow to close near flat.SPI up 35 - Resources will struggle - AUD below 70c - Korea to be closely watched.Marcus Today – Daily Market InsightsMarcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.If you'd like to go further:Start a free 14-day trial of Marcus Today http://bit.ly/mt-trial-podcastJoin Marcus Today Use code MTPODCAST for 10% off http://bit.ly/mt-join-podcast-offerMT20 – Managed ETF Portfolio A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing. http://bit.ly/mt20-podcastPrinciples – How We Think About Investing A short video series on timing, behaviour, and decision-making. No stock tips. http://bit.ly/mt-principles-podcast—Disclaimer This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.