Broadcom fell 4.52 percent to 328.75 dollars and the semiconductor index fell 4.14 percent, the largest moves in the tables, with the technology sector down 3.02 percent, the Nasdaq 100 down 2.50 percent, Meta down 3.72 percent and Alphabet down 2.47 percent. The selloff itself was reported in this site’s Friday and weekend editions, and this morning’s reporting adds the Monday read rather than a new cause: Seoul’s Kospi opened down 3.17 percent and pared the loss to 1.36 percent in early trade (see today’s Kospi story), while investors pressed Nscale to cut its IPO valuation by more than a third (see today’s Nscale story on the infra-deals beat), fresh evidence that the repricing is hitting AI infrastructure valuations as well as listed chip names.
WTI crude fell 3.12 percent to 98.25 dollars and Brent fell 1.24 percent to 108.50 dollars. Today’s commodities reporting explains the move: oil slipped from a five-month high after President Trump defended the waiver of the Russia and Iran sanctions provisions (see today’s Brent and waiver story on the commodities beat), which loosened the supply risk premium even as Qatar warned the energy shockwaves from the Iran war have yet to peak.
Rare earth miners fell 2.71 percent and lithium and battery miners fell 2.32 percent, extending a weekly slide of 11.05 percent and 8.15 percent respectively. This morning’s commodities dashboard records the falls alongside China’s export-led growth beat, but no single story in this morning’s reporting explains the move, and it is best read as part of the same transition supply chain derating as the chip complex.
The cross-market read is a valuation shock, not a macro one. Yields barely moved, the United States 10 year added 0.9 basis points to 5.10 percent, the dollar index was flat, and gold rose 0.20 percent, while equity risk concentrated in the AI supply chain and the miners attached to it. The energy complex falling on a sanctions waiver at the same time is a separate, policy-driven leg, which is why crude and chips can drop together without it signalling a growth scare.