Big Tech/AI Massacre.
The Federal Reserve was widely expected to hold the Fed Funds Rate steady in a pivotal week where key data releases were set to collide with megacap tech earnings during the final days of campaigning before the US midterm elections.
Things got off to a bright start on a Monday dominated by the announcement officially confirming the upcoming blockbuster Anthropic IPO (ticker ANT). After just five years of existence, the firm’s quarterly revenues are now higher than those of Intel, Uber, Coca-Cola, Netflix or Nike.
Stocks and bonds both shifted higher as interest rates continued to ease and the…
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