Chips Are Crashing, Iran Is Exploding, and the Market Data Is… Gone — Welcome to June 24th
A semiconductor selloff, an escalating Gulf war, and zero index data — the market is truly in its villain era
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| MU MICRON TECHNOLOGY INC | hold | $1093.46 | — | — | — |
| SNDK Sandisk Corp | hold | $2024.20 | — | — | — |
| NVDA NVIDIA CORP | hold | $201.11 | — | — | — |
| IBM INTERNATIONAL BUSINESS MACHINES CORP | buy | $263.10 | — | — | — |
| FDX FEDEX CORP | hold | $294.54 | — | — | — |
| CEG Constellation Energy Corp | hold | $271.75 | — | — | — |
| UUUU ENERGY FUELS INC | buy | $15.54 | — | — | — |
| AFRM Affirm Holdings, Inc. | hold | $72.66 | — | — | — |
Let's start with the obvious: our market data feed is showing 0.0 (N/A) across every single index and indicator, which is either a technical glitch or the most accurate summary of investor sentiment right now. Either way, the real action is in the headlines. The Philadelphia Semiconductor Index ($SOX) cratered ~8% — a proper 'chip wreck' — with $MU down ~13% and $SNDK off ~14%, as South Korean giants SK Hynix and Samsung each dumped 10%+ on reports of slowing AI memory expansion. Bloomberg's own analysts called tech 'extraordinarily overbought.' Shocker.
Meanwhile, Iran just threatened to close the Strait of Hormuz — the chokepoint for roughly 20% of global oil supply — after Trump's ultimatums. Oil is whipsawing, Saudi Aramco's CEO bailed on a major energy conference, and UK PM Starmer called an emergency economic meeting. Treasury Secretary Bessent says the US has 'plenty' of funds for a war. Cool, cool, very normal Tuesday vibes.
On the bright side: defense name $TKMS surged 12% after Germany handed it a major naval contract, while $IBM ripped ~5% on a JP Morgan upgrade. In a market this chaotic, sometimes the old dogs still know a trick or two.