Broadcom fell 4.52 percent and the semiconductor index fell 4.14 percent, the two largest moves in the tables, extending the chip selloff to 11.8 percent on the week for semiconductors despite TSMC raising its guidance. Today’s technology reporting reads the move as a valuation and financing argument rather than a demand problem (see today’s chip selloff story).
Brent crude rose 3.72 percent to 109.86 dollars a barrel and WTI rose 3.51 percent to 101.41 dollars, with Brent settling just under the 110 dollars it touched intraday on Friday. The bid is the Hormuz supply risk premium that has built all week, covered in Friday’s Brent story and referenced in today’s commodities brief, and tanker freight eased 0.98 percent even as the crude price rose.
Meta fell 3.72 percent and the broader tech sector fell 3.02 percent, part of the same growth stock derating as the chips rather than a company specific development. Meta’s own news in today’s reporting, revised business terms claiming AI scraping rights from customer websites, is a regulatory story, not the stated driver of the share move, and no clear single driver for Meta beyond the sector selloff appears in this morning’s reporting.
Natural gas fell 3.71 percent to 3.12 dollars per mmBtu. Today’s commodities reporting ties the fall to the weekly storage build: a 67 Bcf injection that left stocks at 3,567 Bcf gave sellers a fundamental reason to press a market already soft on the week (see today’s gas storage story).
Rare earth miners fell 2.71 percent, taking their weekly loss to 11.05 percent, the worst of the mining complex, with uranium miners down 8.92 percent on the week and lithium and battery names down 8.15 percent. Today’s mining reporting frames it as a broad weekly slide in the transition metals complex while gold held at 4,181.10 dollars, up 0.26 percent on the day (see today’s miner equities story).
The cross market read is a split tape, not a risk off blanket. Energy and supply exposed assets were bid, growth and AI exposed equities were sold, Treasury yields were nearly flat on the day (10 year 5.10 percent, up 0.9 basis points) after a weekly rally of 12 to 16 basis points, and the dollar index eased 0.16 percent. Markets are paying for physical scarcity and charging for duration in technology at the same time.