WS #11210
Fed Chair Warsh signals inflation still too high, markets now pricing in September rate hike; Wall Street ends lower. Meta Platforms jumps 8.8% on report it is building a cloud business to sell excess AI computing capacity, contrasting with broader tech weakness. Microsoft planning third major layoff round (up to 5,500 jobs) next week, targeting sales, consulting, and Xbox divisions. Semiconductor index falls 6.3% as AI displacement trade hits chipmakers; AMAT, INTC, AMD sharply lower.
Fed Hawkishness & Rate Hike Expectations
Fed Chair Warsh signals inflation still too high, markets now pricing in September rate hike; Wall Street ends lower.
Meta Platforms jumps 8.8% on report it is building a cloud business to sell excess AI computing capacity, contrasting with broader tech weakness.
Microsoft planning third major layoff round (up to 5,500 jobs) next week, targeting sales, consulting, and Xbox divisions.
Semiconductor index falls 6.3% as AI displacement trade hits chipmakers; AMAT, INTC, AMD sharply lower.