REFILE-BUZZ-Semiconductor and megacaps fall on Fed hike fears, costly borrowing
NVIDIA Corporation NVDA | 0.00 | |
Meta Platforms META | 0.00 | |
Alphabet Inc. Class A GOOGL | 0.00 | |
Tesla Motors, Inc. TSLA | 0.00 | |
SpaceX SPCX | 0.00 |
Adds company ticker symbols
** Shares of semiconductor and megacap stocks fall premarket
** Markets repricing expectations for an imminent rate hike by the Federal reserve under the leadership of new chair Kevin Warsh
** Hyperscalers increasingly tapping into debt markets to fund AI infrastructure expansion can come under pressure as borrowing costs potentially increase
** Nvidia NVDA.O, the worlds most valuable co falls 2.9%, while chipmaker peers AMD AMD.O declines 5.6% and Intel INTC.O off 7.9%
** Memory Chipmaker Micro MU.O down 8.6% and peer SanDisk SNDK.O falls 9.5%
** Qualcomm QCOM.O dips 5% ,Marvell MRVL.O slides 7.8% and Roundhill Memory ETF DRAM.P down 12.5%
** Megacaps, among the major spenders in developing AI infrastructure and laid out large capital expenditure plans for the same, are poised to extend declines
** Google parent Alphabet GOOGL.O falls 2.6%, Meta Platforms META.O declines 0.5%
** Elon Musk led Tesla TSLA.O down 2.9%, while SpaceX SPCX.O is headed to extend declines for a fourth straight day, last down 4,8%; co turned to the bond market for the first time, as it ramps up spending