Bank Earnings vs. Chip Collapse: The Sector Rotation Reshaping the Summer Market
Tuesday's tape was a split-screen moment. Five of America's largest banks reported blockbuster second-quarter earnings while the Nasdaq-100 fell nearly 2%, dragged down by a semiconductor shock that wiped 15% off SK Hynix in a single session. That is not noise. That is institutional capital making a directional bet on where the next twelve months of returns will come from. Key Takeaways SK Hynix fell 15% on July 14, pulling NVDA down 3.52% to $203.53 and sending XLK lower by 2.42% as the AI chip trade faced its sharpest single-day test of 2026. JPMorgan, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo all reported Q2 results, with KBW's Chris McGratty projecting investment banking…
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