Market optimism fizzled as semiconductor news sent shockwaves: China’s chip surge, with ChangXin going public and a Shanghai firm cracking ASML’s equipment monopoly, crushed Nvidia, AMD, SK Hynix, and Micron. Big tech like Microsoft and Apple held firm, but Caterpillar dragged the Dow. Fed’s next rate move looms — another hike is likely — and major earnings reports are coming this week.
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