Latest / MPC Markets Morning Call
Worst Day Since June as Tech Goes Down with the Chip
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…
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