Rekt Mkts: Risk pullback

Well my memory rebound has run straight into another ugly Korea session lol. Oil and yields remain elevated, US tech sold off yday and crypto is softer too. Robinhood Chain is still where most of the real activity sits, but today is a decent reminder that ecosystem activity does not mean every launch wins.

SPX lost roughly 0.7% yday and NDQ fell about 1.3%. Futures are basically flat this morning. The latest US session left the 5Y near 4.56%, up roughly 5bps, the 10Y around 4.80%, up about 4bps, and the 30Y near 5.27%, up roughly 2bps. WTI is still elevated near $89.50 after renewed US-Iran fighting kept supply and inflation concerns in focus, while gold is up roughly 0.8% near $4,383. The Fed Beige Book is due today and payrolls arrive Friday. Rising oil and yields are the headache, but with futures holding for now I think payrolls will set the more useful tone from here...and not to mention CPI next week.

Notable that memory getting hit again albeit on thin volumes. Hynix fell roughly 4.7% in Korea this morning and Samsung lost about 4%, broadly in line with a 4% drop in KOSPI. That followed MU losing 2.6% and SNDK 1.9% yday, both weaker than Nvidia's 1.5% decline - again not really a huge amoutn to add here on what is a low volume week but I suppose are not really getting any of the grind I hoped for.

Crypto definitely feeling a bit soggy...always seems to after Saylor gets involved. IDK about you guys but every time I read that he bought BTC I feel like I need to take a shower. Anyway it's is down roughly 1.2% near $77k over 24 hours, ETH is off 2.7% around $2,385, SOL is the weakest major on the list at roughly -3.8% near $98 and HYPE is down about 2.4% around $81.50. Robinhood Chain remains the main event, but the PA is properly split. PONS is only off roughly 3.5% near $0.40 and outperforming after confirmation of it being listed by Robinhood emerged today. Most of the meme/stock stuff is down about 20-40% today along with the move in equities but also I suppose at a major profit-taking point for many. The two standout performers have been AI which surpassed a $300M mkt cap and CASHCAT which hit close to $280M. In general it feels like we're seeing a pullback for RH over the last 24H but I expect this will be a good dip to buy so long as majors hold up. Good luck today.