First Look: Tech Stocks Slide, Netflix Drops, TSMC Expands US Investment

Market Trends & Sector Performance - Nasdaq futures declined by 2% amid a global sell-off in semiconductor and AI-related stocks [1] - Asian markets experienced sharp declines, with SoftBank shares falling over 9% as regional chip stocks tracked the AI-driven retreat on Wall Street [2] - Netflix shares tumbled following a disappointing earnings forecast and a reduction in the frequency of engagement updates [2] - SpaceX shares reached a new post-IPO low, losing $1 trillion in value over the past month following a launch delay [4] Corporate Strategy & Investment - Taiwan Semiconductor Manufacturing Company (TSMC) announced a $100 billion investment to expand US chip-making capacity while raising capital expenditure and revenue forecasts [3] - Anthropic is preparing for a potential IPO, evidenced by the recruitment of an investor relations director with a $600,000 salary [5] - Sironic Technologies selected Texas for a $3.2 billion shipyard project at the Port of Brownsville, expected to create up to 10,000 jobs [8][9] Macroeconomic Indicators & Regulatory Updates - US mortgage rates climbed to 6.55%, marking the highest level in a year and increasing pressure on the housing market [6] - US retail sales growth slowed, falling short of economist forecasts due to the impact of inflation and higher interest rates on consumer spending [7] - The FDA approved Merck’s Lipfinza, the first oral PCSK9 inhibitor for lowering LDL cholesterol, offering a daily pill alternative to injectable treatments [8]