Daily BTC Market Briefing | Explore the Future of Crypto and Seize Market Opportunities
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Nonfarm Payrolls “Scare Off” US Stock Market, But AI Hardware Soars Against the Trend! Semiconductor Index Jumps Over 3%, SanDisk Surges 12%
The prospect of a Federal Reserve interest rate hike is suppressing overall valuations and some software growth stocks, but the industrial logic behind the demand for AI computing power, storage, and data center interconnectivity has not yet been affected by rate expectations. Storage chip stock SK Hynix closed up over 8%, while optical communication stock Coherent rose 6.6%. According to market participants, the strong performance of chip stocks on Friday had "zero correlation" with the nonfarm payroll data and was mainly due to the ongoing rotation between semiconductor and software stocks.
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