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Bloomberg Tech

Markets Tumble, Chip Makers See Low Demand

Bloomberg Tech

Bloomberg

News, Business News, Tech News

4.469 Ratings

🗓️ 7 October 2022

⏱️ 36 minutes

🧾️ Download transcript

Summary

Bloomberg's Emily Chang breaks down why a robust US labor market spells bad news for financial markets, and why chip stocks got hit particularly hard. Plus, why Facebook says some of its users might have gotten hacked.

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Join global business leaders and investors at the Bloomberg Sustainable Business Summit, returning to Singapore on July 31st.

0:09.0

Take part in solutions driven discussions on how to drive business value and unlock opportunity

0:14.8

while remaining nimble in times of change and greater ESG accountability.

0:19.5

Learn more at Bloomberg Live.com slash sustainablebiz Singapore. That's Bloomberg Live.com slash Sustainable Biz Singapore.

0:24.0

That's Bloomberg Live.com slash sustainable Biz Singapore.

0:28.0

From the heart of where innovation, money and power collide,

0:35.0

in Silicon Valley and beyond,

0:38.0

this is Bloomberg Technology with Emily Chang. I'm Emily Chang in San Francisco and this is Bloomberg Technology

0:57.8

coming up in the next hour a robust US labor market spells bad news for financial markets.

1:03.9

Today's jobs report sent shares tumbling as investors predict more rate hikes.

1:08.8

We're going to talk about why tech is in a particularly tough position.

1:13.0

Plus chipmakers warn of a major industry slowdown, sending tech shares even lower,

1:18.0

the biggest names from AMD to Samsung and Micron are all saying the same thing.

1:24.0

Demand is tumbling.

1:26.0

We're going to have more on that in a moment.

1:28.6

And Facebook is sending its own warning to users.

1:32.0

You may have been hacked.

1:33.8

Meta says 1 million user log-ins may have been stolen,

1:37.0

compromised.

1:38.2

Later this hour, we're going to talk to Meta Security Policy

1:40.7

Director.

1:41.8

Chip makers warning weekly that demand is faltering this as they face surging shipping and materials costs and in the latest sign of trouble.

...

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