Finance

Chipmakers including Micron Technology, Intel, and Nvidia saw notable losses today following a report suggesting potential weakness in memory chip prices by 2027. This volatility was further exacerbated by heavy selling in Asian semiconductor giants Samsung and SK Hynix, which triggered circuit breakers in international markets.

Investors are adjusting to a more aggressive outlook from new Fed Chairman Kevin Warsh, whose recent comments suggest interest rate hikes may be necessary to control inflation later this year. This shift has pushed the 10-year Treasury yield near 4.49%, increasing borrowing costs and impacting growth-focused sectors like artificial intelligence.

Digital assets mirrored the volatility in equity markets, with Bitcoin dropping below the $62,500 level. The decline in cryptocurrencies is being attributed to the broader tech sector retreat and a massive liquidation of leveraged long positions totaling over $700 million across the crypto market.