AI chip stocks fall, Brent crude above $108, bitcoin braces for volatility
- —Nvidia fell more than 3%, while AMD, Intel and Marvell dropped 5-6%
- —The Philadelphia Semiconductor Index fell nearly 6% in the session
- —Brent topped $108 after the shutdown of a 4 million barrel-per-day pipeline
- —The market is pricing in a higher probability of a Fed rate hike
Why it matters: Rising oil amplifies inflationary pressure and expectations of Fed tightening, weighing on risk assets including bitcoin.
Source: Blockonomi