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Tech Stocks Plummet… But One Climbs

Tech Stocks Plummet… But One Climbs

At the end of the last week there had been one notable winner out of US President Donald Trump’s “Liberation Day” tariffs: First Solar [FSLR], which rose 1.3% as the only major US-based solar player, Seeking Alphadetailed. Meanwhile, Micron [MU], Microchip [MCHP], Western Digital [WDC] and Dell [DELL] plunged over 20% as investors braced for tariff-driven profit hits, particularly for companies with high offshore exposure and vulnerability to margin compression. 

Asian Stock Market “Bloodbath”

Asian markets plunged Monday as Trump’s tariffs sent shockwaves through global trade. Hong Kong’s Hang Seng fell 13.22% to a 28-year low, while the Taiwan weighted index dropped 9.7% to a record low and Japan’s Nikkei sank 8%. Circuit breakers were triggered in Japan, South Korea and Taiwan, Seeking Alpha reported. “It’s a bloodbath,” according to one analyst who spoke to the BBC

Tesla Spiral Continues

Tesla [TSLA] sank over 10% to $214.80 on Monday, Bloomberg reported. This took it below the price about which, in an interview on March 19, US Secretary of Commerce Howard Lutnick said “it’ll never be this cheap again”. The selloff followed Wedbush’s Daniel Ives slashing his price target by over 40%, citing tariffs and an Elon Musk-driven brand crisis. Shares are now down 50% from December highs, reversing gains made post-election.

Oklo’s Craig Bealmear Joins OPTO Sessions

Under a road map introduced by former President Joe Biden, US capacity for nuclear power generation could triple by 2050. Oklo [OKLO] is poised to be at the forefront of that growth. Since 2023, its order book has grown from 700MW to 14GW, partly thanks to demand in the data center space. Listen to the latest episode of OPTO Sessions for the lowdown on this dynamic stock. 

Bitcoin Takes a Beating

“In a selloff as broad and deep as this one, it’s hard for any risk asset to come away unscathed,” Laith Khalaf, Head of Investment Analysis at AJ Bell, told the BBC. Indeed, Bitcoin saw a significant selloff on Monday, dropping below $75,000 for the first time since November 7, wiping out nearly all gains since Trump’s election win. In total, crypto markets slid 12% to $2.47trn, Seeking Alpha reported. 

New Tether Token for the US? 

The world’s most traded cryptocurrency, Tether may launch a US-only stablecoin if Trump introduces crypto-friendly rules. CEO Paolo Ardoino told the Financial Times that the administration views stablecoins as “an important instrument” and is discussing new regulations. Tether, with $144bn in circulation, does not currently serve US customers; however, a shift could open that market. 

Why Has Cathie Wood’s ARK Ditched Block?

Block [XYZ] is a US-headquartered commerce technology firm. Formerly Square, the company offers one-stop exposure to offline and digital commerce, cryptocurrencies, buy now pay later, and peer-to-peer cash transfers. However, with Cathie Wood offloading $29.1m worth of XYZ — over 500,000 shares — in two days, and the stock sitting near 18-month lows, Block does not look to be in a healthy place. What happened?

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