Daily Market Report – March 30, 2026

Today's trading was significantly influenced by the statements of Fed Chair Jerome Powell – Powell emphasized that long-term inflation expectations remain well anchored; monetary policy is "in a good position to wait." The yield on ten-year US Treasury bonds (TVC:US10Y) fell to 4.34% following Powell's remarks.

At the center of the day was a notable correction in the semiconductor segment. Micron (NASDAQ:MU) was particularly hard hit, with its stock dropping by around 10%. Reports of more efficient AI architectures that could potentially reduce memory requirements met with increasing doubts about the sustainability of the currently exceptionally high margins in the DRAM and HBM segments. Micron had become a central beneficiary of the AI narrative in recent months.

Lam Research (NASDAQ:LRCX), Intel (NASDAQ:INTC), and SK Hynix (KRX:000660) also declined as investors took profits in the AI segment. Notably, ServiceNow (NYSE:NOW) rose by over 5%, supported by strong expectations for enterprise software and stable cash flows.