
About this episode
U.S. stocks fell sharply due to President Trump's threats regarding Iran, impacting the semiconductor sector and inflation rates.
Opening Bell - Morning Commentary U.S. stocks Fell Sharply as President Trump Threatens more Iran attacks U.S. stocks tumbled sharply on Wednesday after President Donald Trump warned that talks with Iran were “taking too long” and threatened further action. The Dow plunged 953.33 points (1.87%) to 49,918.78, the S&P 500 slipped 1.62% to 7,266.99, and the Nasdaq Composite fell 1.98% to 25,169.50. Semiconductor names again led the weakness. Micron Technology, Advanced Micro Devices and Broadcom all declined, marking their fourth down day in five sessions. The iShares Semiconductor ETF (SOXX) dropped more than 3%. Some traders attribute selling in chip names to position adjustments ahead of Friday’s SpaceX IPO, with retail investors freeing up capital for what could be the largest IPO ever. On the macro front, May’s core consumer price index (ex-food and energy) was a bit lower than expected at 0.2% month-on-month versus a 0.3% consensus. Year-on-year core CPI held at 2.9%, matching estimates but still above the Fed’s 2% target. Headline inflation, which includes all items, climbed above 4% for the first time in three years. In commodities, gold plunged over 4% amid a stronger…
Topics covered
- U.S. stock market
- Iran tensions
- inflation
- semiconductor sector
- commodities
- IPO market
Keywords
- U.S. stocks
- Donald Trump
- Iran
- semiconductors
- inflation
- SpaceX IPO
- gold
- oil
Mentioned in this episode
Organizations: Micron Technology, Advanced Micro Devices, Broadcom, iShares Semiconductor ETF
Places: Iran
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