Arkea AM flags SOX entering bear market as chip stocks slide 20% from peak
SOXX•Oil and rates move higher
Oil jumped about 15.5% on Iran-US escalation, Ormuz and Red Sea risks; WTI topped 81, Brent neared 90.
US core CPI was flat m/m; PPI fell 0.3% m/m, while import prices rose 0.3% led by semiconductors up 31% y/y.
10-year Treasury held near 4.55%; Bund rose to 3.13%, OAT to 3.93%; EUR/USD at 1.14, USD/JPY at 162.4.
Markets weaken across regions
Nasdaq fell 4.13% for the week, dragging Nikkei down 6.44% and MSCI Emerging down 4.1%; EuroStoxx 50 lost 0.62%.
Semiconductor stocks enter bear market
Arkea Asset Management flagged a global risk-off week as semiconductors slid into a bear market, down 20% from the peak.
