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+4 moreGlobal macro · US · Asia · Global

Chips Slip, Oil Rips: Memory Meets Hormuz | Daily Market Recap

Your 3-minute daily market update - simplified for busy investors.

K

Kristal Research Desk

Kristal.AI

8 Jul3 min

Your 3-minute daily market update - simplified for busy investors.

Today: Samsung misses sky-high expectations sending Korean chips down 9-10%, Nasdaq 100 drops -1.77% as chip stocks lose $1.5T since June 25, Iran attacks ships near Strait of Hormuz prompting US to revoke Iran's oil license, oil surges to $70.44 WTI (+$1.89) then jumps again after hours as US strikes dozens of Iranian targets overnight, Intel crashes -10% in sympathy, Rivian plunges -18% on 75M share dilution, Cloudflare surges +8.5% on upgrade, and money rotates into healthcare (+1.6%), real estate (+1.5%) and staples (+1%).

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