Christopher Forbes, head of Asia and Middle East at CMC Markets, told Reuters that he thought that recent tech earnings had been robust, despite the market reaction.
But it just shows how much was baked into the price. SpaceX is a pretty good proxy for market sentiment right now, and it’s below the IPO price.
I’m still not seeing any panic — people are buying gold and silver and those have been losing trades.
Kevin Warsh and his comments and changing views towards what appears to be quite hawkish Fed policy started a cascading effect towards taking chips off the table.
We started to get a lot more momentum in terms of the selling pressure, first off with the very high profile names like SK Hynix and Samsung, but from there it has kind of spread.
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