U.S. stock futures have widened their losses, with Nasdaq 100 futures falling over 3%. S&P 500 futures are down 1.5%, and Dow futures have decreased by 0.5%.
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U.S. Stock Futures Decline, Nasdaq 100 Futures Drop Over 3%
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Storage Concept Stocks Plummet: SanDisk Falls Over 13%, Micron Drops Over 12%
On June 23, U.S. storage concept stocks experienced a sharp decline, with SanDisk falling over 13% and Micron dropping over 12%. Other companies such as Phison Electronics and Western Digital saw declines of over 9%, while Seagate Technology fell over 8%. In related news, the South Korean Composite Index plummeted nearly 10% today, marking the largest single-day drop since March 4 of this year. The two major storage giants, Samsung Electronics and SK Hynix, both closed down over 12%. The South Korean market has shown clear signs of overheating after reaching historic highs, and growing concerns about the Federal Reserve's interest rate hikes have also weighed on the performance of AI tech stocks. Currently, the market is focused on Micron Technology's quarterly earnings report, viewing it as a 'touchstone' to assess the quality of AI hardware stocks. -
Bank of America Says Nasdaq 100 Index Approaching Bubble Levels
On June 23, Bank of America research analysts stated that while the risks surrounding the rise of the Nasdaq 100 index are accumulating, there may still be room for further expansion in AI themes. The team's bubble risk indicator shows that the Nasdaq 100 index is slightly below the 0.8 level, which typically indicates an increase in short-term tail risks. Tech stocks and semiconductor stocks have already exhibited extreme bubble-like price trends. The Bank of America team wrote that the AI bubble may take years to fully form, but history suggests that its indicators can help signal phase corrections. -
Indian Startup Valued at $4 Billion Secures Meta Investment, But Loses Founder to WhatsApp
On June 23, Indian fintech startup Cred is set to complete a $900 million funding round led by Meta Platforms, owned by Mark Zuckerberg, but at the cost of losing its founder and CEO Kunal Shah to WhatsApp. Recently, the company announced that in this latest funding round, it has been valued at over $4 billion with Meta becoming a minority shareholder. The funds will be used to 'accelerate business growth, strengthen institutional capabilities, and expand its leading position across various business sectors.' -
U.S. June Composite PMI Preliminary Rises to 52.2, Manufacturing PMI Exceeds Expectations at 55.7
On June 23, the preliminary composite output index for the U.S. in June reported 52.2, up from 51.5 in May; the preliminary manufacturing purchasing managers' index for June reported 55.7, surpassing analysts' estimate of 54.6. -
Philadelphia Semiconductor Index Plunges 7% at Open
On June 23rd, the Philadelphia Semiconductor Index opened with a sharp decline of 7%. Among its constituent stocks, Nvidia's share price fell by 3.62%, TSMC's by 6.17%, Broadcom's by 2.44%, Micron Technology's by 10.97%, AMD's by 7.51%, and ASML's by 7.21%. -
Ethereum Foundation Completes Organizational Restructuring, Reduces Team by 20%
The Ethereum Foundation (EF) has announced the completion of a months-long organizational restructuring. This adjustment was made to align the organizational structure with new mission planning and treasury management policies. As a result, the EF team size has been reduced by 54 individuals, representing approximately 20% of the original team. Some departing members will continue to contribute to Ethereum's development as ecosystem contributors in the future. The new organizational structure will focus on seven key areas: Protocol Layer, Access Layer, User Layer, Community Layer, Institutional Layer, as well as the Operations Team and Management Support Team. The Ethereum Foundation stated that further details on work priorities under the new structure and how ecosystem participants can collaborate with the new organizational system will be announced in the coming weeks and months. -
SpaceX Shares Drop Nearly 3%, Market Cap Falls Below $2 Trillion
June 23rd news: At the opening of the US stock market, SpaceX's stock price fell by 2.88% to $150.150 per share, with its total market capitalization reported at $1.98 trillion. -
Agency: Global Memory Market Expected to Reach 150 Trillion Won This Year
On June 23, Counterpoint Research released its latest forecast, predicting that the global memory market will continue to maintain growth momentum in the first half of 2027. However, the possibility of significant price adjustments in the second half of next year cannot be completely ruled out. The agency expects the global memory market size to reach 150 trillion won this year, with a further growth of 40% to 210 trillion won by 2027. Additionally, the share of server memory is expected to remain high at 56-57%, a significant increase compared to 37% in 2025. -
US Department of Energy to Provide $17.5 Billion Loan for Nuclear Projects
On June 23, according to The Wall Street Journal, the US Department of Energy will provide a $17.5 billion loan for financing nuclear energy projects. The loans will accelerate the construction of ten reactors in the United States. The funding will support Westinghouse's AP1000 reactors. -
Blockchain Data Analytics Company Allium Completes $40 Million Series B Funding
On June 23, blockchain data analytics company Allium announced the completion of $40 million in Series B funding, led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures. The company's primary business is to provide blockchain data analytics services, currently employing 50 staff members. Its data sources have been adopted by institutions such as Visa, the U.S. Federal Reserve, Coinbase, and Andreessen Horowitz.
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