Key Facts
What the world’s markets decided: the semiconductor rally cracked after its two-day run, with US chip stocks reversing hard (SMH −5.40%) as Micron led a wave of profit-taking. But this was a rotation, not a rout, as financials rallied (XLF +2.18%) and Meta jumped +8.81% on plans to sell spare AI computing power.
Korea was hammered: the memory-chip selloff hit hardest in Seoul, where Samsung fell −7.00% and the KOSPI −4.57% on a US price-fixing lawsuit and reports of Apple lobbying to buy chips. Together Samsung and SK Hynix make up nearly half the index.
Money rotated back to banks: as chips and industrials fell, US financials surged and defensives firmed, a swap out of expensive growth and into steadier value. Microsoft +3.02% and Apple +1.73% rose even as Nvidia and Broadcom slipped.
Commodities were mixed: oil fell −2.98% and copper −1.35% while gold rose +0.60%, a mix that pressures the region’s energy names but lifts its haven appeal.
