News Summary

• The chip stock correction snowballed again overnight amid growing concerns about rising competition and circular financing.
• This comes ahead of a set of critical earnings reports from tech ‌companies on Wall Street and in Asia - and it comes despite a further slump in oil prices below $90 per barrel amid the tense ‌pause in the Iran conflict.
• But first, check out my latest column, where I outline the many inflationary drivers that central banks may increasingly struggle to "see through".
• Stock markets remained on edge on Monday and heading into Tuesday due to a host of catalysts.
• One was a sharp drop in shares of u.s. chip giant Nvidia - partly on reports of another round of circular financing with OpenAI.
• Another possible trigger was ‌the blowout IPO of China's CXMT on Monday - a first-day ⁠jump of nearly 470% that unveiled a new chip giant ready to soak up investment funds.