WS #10538

The dominant theme in this window is the intensifying tech selloff, with semiconductor stocks under renewed pressure. Micron (MU) options are pricing another major swing ahead of earnings, with shares down ~13% to ~$1,060. A dark pool alert shows 2.1M shares of SMH traded at $624.7 ($1.31B total), indicating large institutional activity away from public markets. South Korea's market dropped 10%, adding to the semi rout. Bitcoin slipped to $62,000 as a stronger U.S. dollar and broader risk-off sentiment pressured crypto markets ahead of key inflation data. The Ethereum Foundation fired 54 employees and plans to reduce its budget by roughly 40%, adding to crypto bearishness. On the geopolitical front, the U.S. eased restrictions on Iran's World Cup team, allowing travel two days before its next match, but Trump said Iran's unfrozen funds will remain under U.S. control, and Pakistan's PM confirmed Iran's missile program will not be discussed with Americans. Ukraine's blockade of Russian-occupied Crimea is taking effect, with fuel sales suspended and power blackouts reported. The UK is experiencing a severe heatwave with temperatures expected to reach 39C, straining infrastructure. SPS Commerce is exploring a sale after activist pressure. SpaceX launched a $25 billion notes offering. The tech selloff narrative is ESCALATING, with no counter-signals in this window to offset the bearish pressure.