Morning Bid: Wall Street gets vertigo

Market Overview - A significant pullback in Big Tech and chip stocks occurred, raising concerns about potential prolonged market corrections due to high valuations [1][2] - The S&P 500 and Nasdaq both declined over 1%, marking Wall Street's worst day in nearly a month [2] Company-Specific Developments - Palantir's stock dropped 8% following disappointing earnings, despite its stock price doubling this year and trading at approximately 230 times forward earnings [3] - Advanced Micro Devices reported decent results but saw a 3% decline in after-hours trading [4] - Super Micro Computer's shares fell 9% due to missed profit and revenue expectations [4] - Nvidia and Palantir have attracted bearish bets from investor Michael Burry, known for his previous successful short against the housing market [3] Economic Indicators - U.S. stock index futures showed no recovery, with tech-heavy indices in Japan and South Korea losing over 2% [5] - The dollar index reached its highest level since May, while the Korean won fell to a seven-month low [7]