The fear devours AI greed: The semiconductor sector is heading for its darkest month since 2002 and pulls SK Hynix down by almost 50% – but robust corporate earnings keep the broad Wall Street remarkably stable, while falling oil prices following new Iran talks ease inflation fears – Apple dethrones NVIDIA as the most valuable company in the world, ASML trembles before China's self-made chip machines, and just ahead of the Fed decision, Citadel bets on a surprising interest rate hike by central bank chief Kevin Warsh
Reading Time: 10 minutes
USA & MACRO-ENVIRONMENT Wall Street presents a deeply divided picture While the giants from the semiconductor sector are once again being sold off, investors are consistently rotating into stocks with better growth prospects – buoyed by a so far convincing earnings season. The broad S&P 500 declines slightly by 0.02% and fluctuates, but its equal-weighted version, which removes the distortion effect of the mega-caps, hits a record high. The tech-heavy Nasdaq 100 loses a noticeably greater 1.13%. According to HSBC strategists led...
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