# Tech sells off as banks post record quarter | Market movements

Page: https://stenobird.com/podcast/shared-lunch-135733/tech-sells-off-as-banks-post-record-quarter-market-movements
Text version: https://stenobird.com/podcast/shared-lunch-135733/tech-sells-off-as-banks-post-record-quarter-market-movements.md
Podcast: [Shared Lunch](https://stenobird.com/podcast/shared-lunch-135733)
Published: 2026-07-21T21:55:58+00:00
Episode link: https://omny.fm/shows/shared-lunch/tech-sells-off-as-banks-post-record-quarter-market-movements
Audio file: https://pdst.fm/e/dts.podtrac.com/redirect.mp3/traffic.omny.fm/d/clips/7784f840-c291-422a-924b-ad9000bbad71/ab3b36cb-753f-4cf5-bb8e-b022018b6f53/2321fafd-d382-470e-8a2b-b48e0165532e/audio.mp3?utm_source=Podcast&in_playlist=c6cc8d62-f7b1-4a29-b989-b022018b6f8c
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JSON: https://stenobird.com/v1/public/podcasts/shared-lunch-135733/episodes/tech-sells-off-as-banks-post-record-quarter-market-movements
Duration seconds: 249

## Resource

SHARESIES · MARKET MOVEMENTS · 22 JULY 2026 Jacki Neumann, Head of Capital Markets at Sharesies Note: Filmed Tuesday 21 July ↑ WHAT’S UP — As US–Iran tensions re-escalated, Brent crude oil spiked more than 13% for the week. US banks posted strong results on record ECM and trading revenue off the back of the SpaceX IPO and AI infrastructure fundraising. ↓ WHAT’S DOWN — A tech-led sell-off pulled the S&P 500 down 1.5% and the Nasdaq 2.9%. The Philadelphia Semiconductor Index tumbled almost 10%, closing more than 20% below its June peak. Materials and tech led an ASX pullback. ! BIGGEST SURPRISES — June US inflation came in cooler than expected, even as several Fed officials stayed hawkish. China's Q2 GDP grew just 4.3% — its weakest since late 2022 — with a knock-on risk for Australian iron ore names like BHP, Rio Tinto and Fortescue. ◎ WHAT TO WATCH — Earnings season steps up this week, with Alphabet and Tesla both reporting. On Thursday the ECB delivers its rate decision, with a hold expected, and Australia's June jobs data lands, with unemployment tipped to stay near 4.4%. ◈ BIGGER PICTURE —  Debate over the cause of the semiconductor sell-off: capex sustainability, open-source competition, an AI earnings bubble? The next few weeks of tech earnings reporting should show whether this was a healthy reset or the start of something bigger. Disclaimer : Sharesies Market Movements is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situati…

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