The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
The massive monthslong rally in US stocks has taken a painful turn as traders rushed to get rid of mega-cap technology stocks and snap up more defensive names, while the latest employment data boosted expectations for an interest-rate hike this year. Broadcom shares plunged by the most in more than 16 months after the company’s forecast for sales of its artificial intelligence chips disappointed investors.
The concerted selloff in stocks, bonds and crypto was the biggest setback in months for the latest leg of the bull market, which traces to the end of March when negotiations began in earnest to end war in Iran. Concern has grown recently about the sustainability of an AI-fueled rally that had pushed the Philadelphia Semiconductor Index toward its best quarter ever and made trillion-dollar behemoths out of chipmakers Micron and Samsung.
On this episode, Carol and Tim speak with:
- Bailey Lipschultz, Bloomberg News Markets Reporter- Tom Giles, Senior Executive Editor, Global Technology- Natalia Kniazhevich, Bloomberg News Equities Reporter & John Flood, Goldman Sachs partner and head of Americas equities execution services- Dan Arnold, SVP of National Operations at Protos Security & Vanessa Perdomo-Maglione, Bloomberg 'Business of Sports' Podcast Host

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