Wall Street's tech-led sell-off deepened overnight, with the Nasdaq down 2.6% and the S&P 500 off 1.2%, even as the Dow stayed roughly flat. Adding to the unusual mix, spot Brent pushed above US$110 a barrel while the US 10-year Treasury yield fell around 17 basis points, a combination that doesn't fit the usual inflation playbook.
Dilin Wu, Research Strategist at Pepperstone, unpacks what's driving the broad-based AI sector weakness and what this week's Magnificent Seven earnings, including Meta, Tesla, Netflix and SpaceX, signal about AI monetisation timelines ahead of Alphabet, Microsoft and Amazon's results.
She also weighs oil-driven inflation and rate risks, China's 4.5% GDP print against weak domestic demand and property sentiment, and diverging policy paths at the Bank of Korea and Bank of Japan.
Tune in for her take on where the risks are being underpriced.
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