Pre-Market Report – Thursday 18 December: US markets fall again | Tech under pressure, commodities rally

The AI trade certainly has the wobbles right now. The Nasdaq was down 1.8% and the SP500 1.1% overnight. Big tech had a session to forget with only Netflix and ServiceNow eking out a tiny 0.2% gain. Chip stocks were down even more sharply, with not one in the green at all. The action is in the resource sector currently. Silver continues its euphoric run to a record high of over US$65. Gold, copper and oil rallied. The VIX jumped another 8% and bitcoin fell 2% to $85k

SPI futures are down 8 points. ASX to open lower. Gold and silver rise - Resources to continue to rally.

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