Tuesday's Final Takeaways: Chip Stocks & Crypto Slide Amid Drawdown Warnings

Market Overview - Goldman Sachs and Morgan Stanley warn of a potential 10 to 20% market correction over the next year or two, indicating that a pullback of 10 to 15% is a healthy pause rather than a crash [2] - Concerns arise regarding Bitcoin, which has fallen over 6% in one day and more than 9% over two days, with its price trending downward amid fears that the AI trade may be losing momentum [3] Cryptocurrency Insights - Bitcoin's price has recently dipped below $100,000, marking a significant sell-off, with historical comparisons to its performance in 2018 when it plunged 37% in November [3] Technology Sector - The technology and semiconductor sectors are under pressure, influenced by Wall Street CEOs' warnings about market corrections [4][5] - SK Hynix, a supplier of HBM products to Nvidia, has seen its shares rally over 200% this year but faced a decline after the Korean exchange issued an investment caution [6] Earnings Reports - Nova Nordisk is set to report earnings with expectations of EPS at 66 cents on revenue of $11.84 billion, amid a lawsuit from Pfizer regarding a $6.5 billion unsolicited bid [8][9] - McDonald's is also reporting earnings, with expectations of EPS at $3.33 on revenue of $7.09 billion, reflecting a 3% increase in both metrics [10] Market Sentiment and Economic Indicators - The Supreme Court will hear arguments regarding President Trump's tariffs, which could have significant implications for trade policies [12] - The upcoming ADP report is anticipated to provide insights into labor market risks, which are crucial for Federal Reserve considerations [14]