Amid market gains, chip firms like Kioxia plunged from record highs, while weak US jobs data gave the Fed breathing room.
4 reports, 2 independent
Updated Jul 3
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What happened
Amid market gains, chip firms like Kioxia plunged from record highs, while weak US jobs data gave the Fed breathing room.
Who's involved
What this event is mainly aboutKeep exploring
Part of
Strong hiring figures limited the Federal Reserve's room to cut rates, while investor caution over AI valuations caused a market sell-off.Also in this story
- Stronger-than-expected August jobs report prompts the FOMC to consider policy easing or rate hike considerations.
- High interest rates are reducing the future earnings value of growth stocks.
- A strong jobs report has shifted the Federal Reserve's rate outlook, with experts noting the focus on inflation.
The entities involved
Related events
- Kioxia is highlighted as a major winner in Japan's tech sector amid broader market commentary from UBS.
- A market snapshot noting Samsung and Kioxia's status as memory chip makers, Fast Retailing's operation of UNIQLO, and Fed policy uncertainty affecting investor sentiment.
- Seoul and Shanghai tech markets saw losses, while Apple discussed chip purchases from Chinese firms and Kioxia dropped in Tokyo.
- KOSPI index reflects AI hardware trade while Fed hawkishness drives rising long-end rates.