Last week: Performance
Seven of eleven sectors were higher last week, but it didn’t matter for the major indexes as the worst weekly loss for technology since April 2025 dragged the S&P 500 to a 1.95% loss. EM was even worse, as the tech/chip collapse started in South Korea and extended into Taiwan.
Last week: The most important moves
First 1% down day for the S&P 500 since July
That was Wednesday. It followed it up with another on Friday.
Banks take a punch on earnings, then bounce back
Healthcare soars to new highs
But nobody cared about any of that because… AI
Korea’s collapse kicks off again
Worst week for the KOSPI since 2008. I called out the risk to SK Hynix in the October 8 Stock Trends, and it has been straight down since.
