Welcome to Markets Desk, your midday read on what's moving money.
Semiconductor stocks are taking a serious beating, and the numbers are hard to ignore. Intel has shed sixty-three percent from its June high, Micron is down forty-seven percent, and SanDisk has collapsed by sixty-six percent. This isn't a rotation — it's a repricing of an entire sector that got well ahead of its fundamentals.
Shifting from silicon to steel and servers, Core Scientific is walking away from Bitcoin mining entirely. The company plans to be a pure-play data center provider by twenty twenty-seven, with mining already reduced to just seven and a half percent of quarterly revenue. The pivot reflects where institutional capital is actually flowing right now — artificial intelligence infrastructure, not crypto picks and shovels.
And on the housing front, the math continues to punish buyers. The median existing home now sells for four hundred seventeen thousand five hundred dollars, and newly built homes average nearly five hundred thousand. At current mortgage rates, carrying a four-hundred-thousand-dollar loan means monthly payments that would have been unthinkable just three years ago, and affordability shows no meaningful sign of recovering soon.
That's the tape. Markets Desk, signing off the floor.
