ASX set for gains, tech giants weigh on Wall Street; SpaceX swings higher

Sharp Drops In Big Tech Companies Pull The Nasdaq Down In Early Trading

Big tech crashed (Nasdaq –1.5%, Nvidia –2.4%, Micron –9.4%) on Fed rate-hike signals; markets price 90% odds of increases before year-end. Higher borrowing costs risk strangling the AI capex wave, forcing enterprises to recalibrate foundation model and infrastructure spending.