Macro and market positioning: Eurozone PPI spike, equity selloff, Micron delay
Eurozone PPI came in hot at 11.1% y/y, Korean chip stocks sold off sharply, and Micron paused a Taiwan fab. One fund closed equity shorts into the selloff.
What we know
Eurozone PPI beat estimates at 11.1% y/y. Micron paused a $4.5B Taiwan plant over a labor dispute. A KOSPI plunge explainer circulated, and a fund said it closed nearly all equity shorts. On crypto, an account on X expects ETH higher while others say the memecoin trenches are struggling. Today's data includes jobless claims and Fed speakers.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.