Whipsaw moves in chip stocks are front and center again this morning, with steep drops in SK Hynix and Samsung sending South Korea’s Kospi index more than 6% lower, and AI stocks sliding before the opening bell stateside.
Taiwan Semiconductor Manufacturing posted its fifth straight quarter of record earnings earlier today, but that wasn’t enough to lift investors’ moods. Nasdaq-100 futures are slipping, with Sandisk, Western Digital and Micron among the biggest losers premarket.
The moves continue a choppy stretch for the sector as other factors have started to pull traders’ focus—namely, earnings season and growing tensions between Washington and Tehran.
Oil prices are stable, with Brent crude futures retreating slightly below $85 a barrel, even after my colleagues reported that President Trump is leaning toward expanding U.S. military operations in Iran.
It’s another busy day for earnings and data. On tap: June retail sales and data on the U.S. housing, as well as earnings from UnitedHealth, U.S. Bancorp and Netflix.
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