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Site title: Wolf Street | The stories behind business, finance, and money

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Amid general chipmaker bloodbath, SK Hynix and Samsung, which make up half of the index, crashed even more.

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Orders for computer & electronic products; electrical equipment & components; machinery incl. power generation equipment; fabricated metals products; and core capital goods – all surged.

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During the last debt scare, the 10-year yield hit 5%, and the floodgates of demand opened. Now the debt is $6 trillion bigger; no guarantee 5% will open the floodgates again.

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In the South, inventory for sale was up 71% from 2019, while sales were down 8%. Homebuilders are very motivated to make deals.

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Warsh scuttled forward guidance, markets are on their own. However this comes out, it promises to be a rougher ride, but in a fresh breeze.

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