From euphoria to drama: What happened yesterday? [Video]
|In just a few hours, the market swung from euphoria to outright drama. Nvidia’s stellar results gave sentiment a quick boost, but it didn’t last long — by the US open, the mood soured as questions about Nvidia’s books, AI fatigue and lingering credit concerns hit the tape. Oracle’s CDS spike, mounting chip inventories, rapidly cycling deferred revenue and a crypto sell-off all fueled a sharp risk-off move, sending the Nasdaq from +2% to deep in the red. Mixed US jobs data added to the uncertainty, while climbing Japanese yields reignited fears about repatriation of the roughly $3.4 trillion Japanese investors hold abroad. As unease grows, investors are digging deeper — and finding trouble. Bubble chatter is bubbling, volatility is building and the market is splitting between the cautious and the fearless. Strap in: this week isn’t ending quietly.
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