That line on the U.S. stock market last night had me getting out of bed in the middle of the night to take a look, then lying back down.
The Philadelphia Semiconductor Index fell 12.25% in a day, with not a single one of its thirty components in the green. $NVDA fell 9.26% to close at 181.6, AMD fell 17.26%, Micron 17.46%, and SanDisk a full 22%. The Nasdaq fell 5.52%, while the Dow was down just 3.44% and Apple only 1.53%.
This isn’t as simple as the crypto market following U.S. stocks down. What’s really been disrupted is the capital-spending pipeline for AI data centers. With Democrats taking both chambers, plans to approve data centers in states like Texas and Ohio will have to be reconsidered. Hardware is the first part of the chain to get cut.
Yesterday I was saying money was moving from chips into software. Today, Microsoft fell 3.58% too. Software just fell a little less.
$BTC is now at 75698, down 6.1% in 24 hours. Its pace of decline looks like the Philadelphia Semiconductor Index, not the Dow’s 3.44%. The crypto market is tied to isn’t the broader U.S. stock market—it’s the AI leg. #比特币 #U.S.Stocks
The Philadelphia Semiconductor Index fell 12.25% in a day, with not a single one of its thirty components in the green. $NVDA fell 9.26% to close at 181.6, AMD fell 17.26%, Micron 17.46%, and SanDisk a full 22%. The Nasdaq fell 5.52%, while the Dow was down just 3.44% and Apple only 1.53%.
This isn’t as simple as the crypto market following U.S. stocks down. What’s really been disrupted is the capital-spending pipeline for AI data centers. With Democrats taking both chambers, plans to approve data centers in states like Texas and Ohio will have to be reconsidered. Hardware is the first part of the chain to get cut.
Yesterday I was saying money was moving from chips into software. Today, Microsoft fell 3.58% too. Software just fell a little less.
$BTC is now at 75698, down 6.1% in 24 hours. Its pace of decline looks like the Philadelphia Semiconductor Index, not the Dow’s 3.44%. The crypto market is tied to isn’t the broader U.S. stock market—it’s the AI leg. #比特币 #U.S.Stocks
