There isn't one "smoking gun" catalyst — but investors could be reacting to Chinese memory developments, Korean stock-market weakness and Intel's inability to sustain postearnings gains
Alphabet says it plans to throw even more money at the AI build-out. The Iran war, oil back at $100 a barrel and rising bond yields make it all the more difficult for the market to stomach.
The different price action between artificial-intelligence hyperscalers and chip and infrastructure stocks is a throwback to a setup in the late 1990s, argues JPMorgan.
