# Tuesday - June 23, 2026

Page: https://stenobird.com/podcast/the-dividend-cafe-743128/tuesday-june-23-2026
Text version: https://stenobird.com/podcast/the-dividend-cafe-743128/tuesday-june-23-2026.md
Podcast: [The Dividend Cafe](https://stenobird.com/podcast/the-dividend-cafe-743128)
Published: 2026-06-23T18:55:00+00:00
Episode link: https://podcast.dividendcafe.com/episodes/tuesday-june-23-2026
Audio file: https://dts.podtrac.com/redirect.mp3/media.zencast.fm/the-dividend-cafe-1/bdc11554-6a8f-42b7-8161-b0521ac75725.mp3?source=feed
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/the-dividend-cafe-743128/episodes/tuesday-june-23-2026
Duration seconds: 511

## Resource

Brian Szytel recaps a broad market sell-off led by technology and semiconductors, highlighting a nearly 10% drop in South Korea’s KOSPI—an index heavily concentrated in Samsung and SK Hynix—attributed to valuation, demand shifts, and DRAM supply issues after a major run-up. He notes similar 5–10% declines in high-flying semiconductor names and emphasizes that despite real AI-driven demand and a rare reversal of decades-long chip price declines due to supply-demand imbalance, valuations still matter. On the economic front, flash PMIs were strong: manufacturing surged to 55.7, the highest in a little over four years, and services also beat expectations, supporting an improving growth backdrop tied partly to data-center CapEx. He addresses concerns about the U.S. dollar losing reserve status, arguing no viable replacement exists, citing dollar dominance in FX (90%) and global reserves (57%) versus the euro (20%). 00:00 Summer Market Check-In 00:31 Global Tech Sell-Off 01:38 Semis Valuation Reality 02:01 AI Chip Demand Shift 02:48 PMI Data Highlights 03:43 Dollar Reserve Status Fears 04:32 What Could Replace Dollar 05:53 Reserve Currency Numbers 06:32 Wrap Up and Q&A Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

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## Transcript

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