MPC Morning Call 24th June: Chip Wrecked
Global equities took a tech-fuelled beating on Tuesday as a South Korean media report triggered a 10% KOSPI collapse and sent the Philadelphia Semiconductor Index down 7.9% — its worst session in months. The S&P 500 lost 1.4% to 7,365 while the Nasdaq 100 shed 3.3% as AI spending concerns compounded the chip selloff. The ASX opens modestly higher, with Australia’s May CPI and an RBA Deputy Governor speech the key local events today.