A New Oil Shock in the Strait of Hormuz and the Highest Bond Yields in Nearly Two Decades Send Wall Street and the DAX into Negative Territory – Semiconductor Sector Plummets – NVIDIA Cements its Dominance in the AI Ecosystem with a $3.5 Billion Bet on MediaTek, and Anthropic Secures Additional Computing Power from Lambda for $35 Billion – Fed Signals from Kevin Warsh Fuel Speculation About Interest Rate Hikes, While Novartis Surges Nearly 6% on MS Success

US & MACRO SITUATION Wall Street kicks off the seasonally weak month of September sluggishly. The S&P 500 is down 0.48%, while the tech-heavy Nasdaq 100 has fallen more sharply—dropping 0.98%—weighed down primarily by a sell-off in chip stocks. This caution is driven by a renewed sell-off in the bond market: the yield on 10-year US Treasury notes has climbed for the fifth consecutive trading day to 4.78%, reaching its highest level since January. Globally, yields are hovering near their highest levels in nearly two decades; according...