Worst Day Since June as Tech Goes Down with the Chip
from MPC Markets Morning Call Hosted by MPC Markets
Nasdaq had its worst day since June as the AI and chip trade was aggressively unwound. Equal-weight S&P rose while the headline index fell, highlighting how concentrated the damage was. Mark Gardner covers: The sharp sell-off in chip and AI names (Meta, Lam Research, NVIDIA and others) Trump’s midterm campaigning and the growing NIMBY backlash against data centres over power bills SOX sitting on its 200-day moving average after a 27% decline from the highs Why bond yields fell on recession fears tied to a potential slowdown in the data-centre build-out China tech’s ongoing bear market and the practical AI angle Oil jumping to a five-month high on Middle East embassy evacuations Why buying the first dip on big fallers has historically been a losing strategy Risk-off tone into the weekend. Bulls vs Bears this afternoon focuses on “The Rise of the NIMBYs.” Also: fixed coupon notes and free Mosaic access until year-end. General advice only. Not personal financial advice.
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