Name: Tech Selloff Hits Markets | Open Interest 6/23/2026
Uploaded: 2026-06-23T17:03:10+00:00
Duration: 5232 s

Speakers

Marija Veitmane — State Street Global Markets Head of Research

Mandeep Singh — Senior Analyst, Bloomberg Intelligence

Michael Ball — Former NY Fed / Market Commentator

Silas Brown — Senior Reporter, Bloomberg

Jacob DeWitte — CEO, Oklo

Enda Curran — Senior Economics Reporter, Bloomberg News

Carmen — Bloomberg Equities Reporter

Summary

The episode covers a sharp tech-led selloff driven by AI chip concerns and overextended positions. SpaceX volatility and yen intervention risks add to market unease. Private credit faces redemption pressures, while the nuclear power sector gains momentum with government support, as Oklo’s CEO discusses the race to power AI.

Global tech stocks sell off sharply, led by memory chip makers after a SK hynix production slowdown report.
SpaceX fluctuates around its $2 trillion valuation amid post-IPO volatility and conglomerate concerns.
Japanese yen falls to multi-decade lows, raising intervention watch despite skepticism over effectiveness.
Apollo caps withdrawals from its flagship private credit fund as retail redemption requests surge.
Oklo CEO highlights accelerating nuclear power buildout with government financing and a path to commercial deployment by 2028.
Iran-U.S. negotiations continue over oil sanctions, frozen assets, and Hormuz Strait navigation.
Investors are reassessing AI trade sustainability, with a few defensive sectors showing relative strength.

Ideas

Michael Ball Former NY Fed / Market Commentator 2:17

Short yen; intervention futile.

Yen intervention is unlikely to succeed because Japan lacks a credible path to higher rates, which would ease pressure and support the yen. Until then, any intervention is throwing money at the wall, so yen weakness will persist.

Marija Veitmane State Street Global Markets Head of Research 20:34

Long tech; earnings lead, no rotation.

The technology sector continues to deliver strong earnings while other sectors lack earnings growth; institutional investors remain heavily committed to tech. Rotation out of tech will not happen until better earnings appear elsewhere, so staying long tech is justified despite stretched valuations.

Mandeep Singh Senior Analyst, Bloomberg Intelligence 36:24

Avoid quantum computing; too early.

Quantum computing infrastructure is still sorely lacking; with massive spending focused on AI infrastructure, quantum won't be a winner in the next two or three years. Investors should avoid the sector as it is too early stage.

Silas Brown Senior Reporter, Bloomberg 59:26

Avoid Apollo, Blackstone, Blue Owl.

The leading private credit firms that attracted the most retail money — Apollo, Blackstone, and Blue Owl — are the most vulnerable as retail redemption pressures build. Elevated redemption requests and caps signal systemic risk, making these names unattractive.

Jacob DeWitte CEO, Oklo 66:17

Long Oklo; nuclear buildout accelerating.

Oklo is positioned to benefit from the nuclear renaissance and surging power demand from AI data centers, supported by government financing, fuel supply deals, and its advanced reactor technology. The company has a clear path to deployment within two years, making it a compelling long opportunity.

This Bloomberg Markets video, published June 23, 2026, features Michael Ball, Marija Veitmane, Mandeep Singh, Silas Brown, Jacob DeWitte discussing FXY, XLK, QTUM, APO, OWL, BX, OKLO. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Michael Ball, Marija Veitmane, Mandeep Singh, Silas Brown, Jacob DeWitte · Tickers: FXY, XLK, QTUM, APO, OWL, BX, OKLO

Tech Selloff Hits Markets | Open Interest 6/23/2026

Summary

Ideas

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