What’s News in Markets: Chip Stocks Clobbered, Retail Rotation, Moderna Makes History
Summary
Major stock indexes fell as surging oil prices and the U.S. debt crossing $40 trillion drove bond yields to decade highs, hurting AI-related stocks like NVIDIA. Meanwhile, retailers Ross and BJ’s benefited from bargain-hunting consumers squeezed by inflation. In a major bright spot, Moderna’s shares surged 177% after its mRNA cancer vaccine showed success in late-stage trials, validating the technology’s potential beyond COVID-19.
Topics discussed
Sponsor: ReliaQuest agentic defense
Intro: WSJ What's News in Markets
Market sell-off: Debt, Iran, and inflation
Bond yields hit decade highs, stocks fall
AI stocks and chipmakers take a hit
AI infrastructure spending and power costs
Consumer trends: Shoppers hunt for bargains
Ross Stores earnings and traffic growth
BJ's Wholesale Club profit outlook boost
Consumer spending habits and home renovations
Healthcare bright spot: Moderna surges
mRNA cancer vaccine trial success
Biotech sector rally and validation
Outro and credits
Sponsor: KPMG Private services
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