Dolphin Daily | Connectivity down, memory down, new cloud down — has the market ditched AI for the Biden trade?
DolphinResearch·
- Global markets experienced widespread declines in technology and AI-related sectors as capital shifted toward defensive assets like healthcare and consumer goods.
- Major events included Marvell acquiring Lumentum in a $115,000,000,000 stock-for-stock deal, alongside major corporate bond issuances from Oracle, Meta, and Google.
- The Nasdaq fell 1.07% and the Philadelphia Semiconductor Index dropped 3.35% below its 200-day moving average, while macroeconomic indicators showed US October ISM manufacturing at 55.5.
