WS #9105
The dominant tech selloff narrative from the prior window continues with no new material developments. No counter-signals or de-escalation events have emerged in the last 30 minutes. The macro environment remains unchanged: rate hike expectations persist, and the chip rout is ongoing. No new data points warrant updating the previous synthesis.
Key developments
- Tech selloff deepens: QQQ -5.33%, chip sector worst day in 6 years; bond traders fully price in Fed rate hike
- Alphabet raises $19.25B via mandatory convertible preferred stock, shows relative strength amid tech rout
- Apollo and Blackstone finalize $35B financing for Anthropic AI infrastructure
- Drone strikes hit Romanian oil terminal and Oman's Mina al-Fahal oil terminal, halting cargo operations
- Marvell Technology to join S&P 500 on June 22, stock surges over 7%