Good evening and welcome to Markets Desk, your end-of-day read on what moved markets and why.
Micron's sharp selloff is rippling through the semiconductor space, dragging the iShares SOXX ETF down with it. The memory chip giant's roughly thirty percent decline reflects a market that ran too hard on earnings optimism, and investors are now questioning whether the broader chip trade got ahead of fundamentals. Broader diversification may be the play here.
Standard Chartered is making headlines with an aggressively bullish call on digital assets, naming Bitcoin, Ethereum, Solana, and XRP as candidates for outsized gains. The bank's price targets are drawing attention precisely because Standard Chartered carries institutional credibility — this isn't a fringe call, and it's moving sentiment across the crypto complex in a meaningful way.
And in tech labor, the era of the sprawling team is quietly ending. Instagram's chief Adam Mosseri says his division has cut team sizes in half, and he's not alone. Across Silicon Valley, executives are explicitly crediting artificial intelligence for allowing smaller groups to do more, effectively retiring Jeff Bezos' old two-pizza rule as the benchmark for optimal team size.
That's the tape. Markets Desk, signing off the floor.
