AI Angst Offsets Oil Decline as Nvidia Deals Reignite Circular Fears

MPC Markets Morning Call · Jul 27, 2026 · 15m

Nvidia fell 5% as $750B+ in AI deals raised circular financing concerns, ASML sank 8.3% on Chinese DUV lithography reports, and oil plunged 8.4% on the US-Iran strike pause. Mark breaks down the semiconductor selloff, China's chip breakthrough with CXMT's explosive IPO, why peak opinion dispersion may signal a turning point, and what's ahead with the RBA decision, FOMC, and megacap earnings from Microsoft, Meta, Apple and Amazon. Plus: last call on Buy the Dip closing Thursday.