Overnight US chip stocks halted declines, with a semiconductor ETF up about 1.3%
and gains in NVIDIA, AMD and Micron; the Nasdaq was near unchanged. Earlier
concentrated selling and leverage-driven rebalancing pressures have eased
temporarily. US stabilization gives a brief reprieve to Korean and broader East
Asian memory and equipment chains, but deleveraging inertia and high-volatility
positions remain unresolved. Upcoming results from ALPHABET, Tesla and Intel
will re-test AI demand, capex plans and earnings delivery; whether the rebound
holds depends on whether results can justify prior elevated expectations.