Many traders don’t realize how much pressure is building in markets right now. Over the past week, the Nasdaq fell 4.5% in its worst week since June, while semiconductor stocks recorded 8 consecutive losing sessions—their longest losing streak since 2008. Samsung and SK Hynix also came under significant pressure, and CoreWeave lost more than a quarter of its value in 5 sessions.
At the same time, inflation came in higher than expected, heightening concerns about interest rate hikes, while Brent crude surged to $110. More alarming, leveraged positions worth $51.6 million in chip stocks were liquidated in just 10 minutes on Saturday, even though Wall Street was closed.
With markets reopening tomorrow, October 19, investors will have to digest all these developments at once, amid escalating geopolitical tensions and a Ukrainian attack on Russia involving more than 1,000 drones.
Notably, October 19 marks the anniversary of Black Monday in 1987, when the Dow Jones plunged 22.6% in a single day. That doesn’t mean history will repeat itself, but the combination of high inflation, oil prices, geopolitical tensions, and pressure on tech stocks makes the possibility of sharp swings tomorrow impossible to ignore. ⚠️$BTC
