South Korea’s equity benchmark plunged 5.5% on Tuesday, leaving the index roughly 38% below its June all-time high. Crypto also saw sharp swings, with bitcoin BTC$83,308.26 falling below $81,000 before rebounding above $84,000 and settling just above $83,000. Ether ETH$2,506.02 fell as low as $2,400.
The Asian selloff reflected mounting concerns about the AI trade. Broadcom CEO called current AI investing “casino-like”, knocking investor confidence and reported advances in memory-chip technology at China’s CXMT raised concerns of stronger competition for established chipmakers.
Samsung Electronics (005930) and SK Hynix (00060) led the declines, falling 7% and 10%, respectively.
Investors are also positioning ahead of Wednesday’s U.S. CPI report, another potential source of volatility. Headline inflation is forecast at 3.6% year over year, with core inflation at 2.5%. A headline reading in line with that forecast would mark an acceleration from the previous month’s 3.4%.
Meanwhile, third-quarter earnings season gathers pace, with JPMorgan Chase (JPM), Goldman Sachs (GS) and Citigroup (C) scheduled to report later today, offering a fresh assessment of consumer demand, credit conditions and corporate activity.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
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