QQQs -94bps following through on Friday’s weakness. More details over new White House curbs on AI chips - tough to see Trump go forward with the full rules given his business friendly cabinet, but uncertainty causing overhang on semis this morning, mainly NVDA - 3%. BTC -3%. China +30bps. Yields roughly flat. Oil ticking up again…
Let’s get to it…
White House Unveils New Curbs on Exporting Nvidia AI Chips
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