Dossier
Brian Jacobsen
Coverage of Brian Jacobsen in the Nexus archive.
Strait of Hormuzplace2Nasdaq Compositetopic1Marvellorganization1MSTRorganization1AppLovinorganization1Lumentumorganization1Parabolic 7topic1Smuckerorganization1Home Depotorganization1Sherwin-Williamsorganization1SpaceXorganization1OpenAIorganization1Anthropicorganization1Richard Steinbergperson1Michael Monaghanperson1AI jitterstopic1New York Stock Exchangeorganization1Nvidiaorganization1Annex Wealth Managementorganization1Iranplace1
- Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
The Nasdaq Composite dropped over 4% by midday before recovering to close down 1%, driven by a sell-off in tech stocks like Marvell, MSTR, and the 'Parabolic 7' chipmakers. Investors rotated into consumer staples such as Smucker, Home Depot, and Sherwin-Williams, signaling a shift away from AI-linked tech trades amid anticipation of SpaceX's IPO and upcoming inflation data.
- Stock markets worldwide drop from records as worries about oil prices rattle the bond market
The US stock market fell from its records due to higher oil prices and worries about the bond market, with technology stocks leading the decline. The S&P 500 and Dow Jones Industrial Average both dropped over 1%, while Nvidia stock fell 3.3%. Rising oil prices are raising pressure after worsening inflation.