Chipmaker Rout Deepens Plunge From Record
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 17 July 2026
⏱️ 26 minutes
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Summary
The latest in finance, economics and investment.
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFriday, July 17, 2026
Featuring:
1) Ross Mayfield, Investment Strategist at Baird
2) Tiffany Wilding, Economist: North America at PIMCO
3) Simona Mocuta, Chief Economist at State Street
4) David Katz, President and CIO of Matrix Asset Advisors
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Transcript
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| 0:59.5 | Ross Mayfield with us right now, Investing Strategist. |
| 1:06.5 | Ross, I love your note where you say, okay, they're selling this, but they're not running from the market. |
| 1:07.2 | Describe. |
| 1:14.1 | Yeah, so the S&P is within a percent of the all-time high and the momentum index is down some 25 percent. So you've had this big rotation out of the darlings of the first half. And there's |
| 1:21.4 | a lot there to pick up the slack, you know, equal weights near an all-time high, small caps near |
| 1:25.3 | an all-time high. And it's, you know, some defensives, and that's to be expected, you know, healthcare utilities catching a bid, but financials, industrial is doing well. You don't see that if it's a, you know, investors fleeing the asset class because they're worried more of a rotation, which, you know, I think is healthy. So we'll take it. It's healthy and it's not a correction, is it? |
| 1:44.9 | I mean, we're just simply on a blended basis. |
| 1:48.2 | There's a lot of carnage out there, but we're nowhere near like, quote unquote, a correction. |
| 1:54.8 | No, not even close. |
| 1:56.1 | I mean, the one thing you could worry about is, you know, where's the leverage in the system? And if there's enough |
| 2:02.0 | of a momentum unwind, do leveraged players, you know, have to start selling other things, |
| 2:08.1 | you know, to meet margin calls or whatever it is? So maybe there's some technical pressure |
| 2:12.2 | down the pipe. But again, the indexes are within a percent or two of an all-time high. I mean, |
... |
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