The selloff is froth coming out of an extreme AI capex bubble, but the bubble hasn't popped yet. We are in the volatile endgame stage which may last ~6 months. The big collapse is likely later this year. Micron earnings will be a major catalyst. Retail participation and leverage are extreme.
Yields
explicit
RUT
Oil
Metals
USD
Bloomberg
7.0
Financial Media
Mark Cudmore 8.5
Financial Media
Mark Cudmore 8.5
6/24/2026 9:38:23 AM
ndx
The big bubble collapse is probably coming later this year.
The selloff is a 'chip wreck' driven by extreme positioning and hedge fund rotation, not a broad tech pullback. The AI rally is overdone in semiconductors, but the Nasdaq remains up over 30% since March.
Yields
implicit
RUT
Oil
Metals
USD
2.5
Other
Jay Hatfield 7.5
Other
Jay Hatfield 7.5
6/24/2026 9:38:23 AM
ndx
Hatfield describes the selloff as a 'chip wreck' driven by extreme hedge fund rotation, not a fundamental breakdown. He sees it as overdone but does not call for a sustained decline, implying near-term volatility rather than a clear directional trend.