Huawei readies AI chip for China, Nvidia shares drop | REUTERS (youtube.com)
Well, the whole market was red. ‘Chinese companies have been scrambling to find a [Nvidia chip] replacement.’
‘The sell America trade.’
Monday, Apr 21, whole stock market was red, with headlines talking about how Trump wants to fire Powell, although not sure that was the reason for the red. However, while the entire tech sector was red, Bitcoin was up 2.5%, a bit higher than recent highs. You might suspect that some big player is buying this, like Microstrategy again, because does it seem likely retailers or investers who are losing money on Tech would be buying? Also, the USD is down. Gold was a little up, and it is at highs.
Powell saying they can't really act right now, because inflation says hike and falling GDP says cut.