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Nvidia (NVDA.O) will hold its annual online conference on June 24.May 13 - According to SEC filings, Nvidia (NVDA.O) President and CEO Jensen Huangs total compensation for fiscal year 2026 is $36.3 million.On May 13th, U.S. chip stocks experienced one of their toughest trading days of the year on Tuesday, with some of the markets best-performing stocks experiencing dramatic reversals. Broadcom (AVGO.O), Intel (INTC.O), and Micron Technology (MU.O) were among the five worst-performing stocks in the S&P 500 and Nasdaq 100 indices. The Philadelphia Semiconductor Index, which has risen more than 60% year-to-date, fell as much as 6.8% intraday, its biggest intraday drop in over a year, before ultimately closing down 3%. Almost all of its components closed lower, with Qualcomm (QCOM.O) leading the decline with an 11.4% drop. The only gainer was Nvidia (NVDA.O), which has underperformed the sector as a whole this year. Murphy, co-head of derivatives strategy at Susquehanna International, said, "The historic rally in chipmakers cant last forever. This sell-off was due long ago after the incredible surge, but because the market is still gripped by FOMO, this pain may not last long."U.S. crude oil inventories at Cushing, Oklahoma, fell by 1.755 million barrels in the week ending May 8, compared with a previous weeks decrease of 1.045 million barrels.U.S. API distillate fuel inventories fell by 319,000 barrels in the week ending May 8, compared with an expected decrease of 2.995 million barrels and a previous decrease of 4.642 million barrels.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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