Data-Center Drama Wrecks Tech; Silver Soars Amid Crypto Chaos

As we head deeper into the holiday season and towards year-end, news from Corporate America tails off, Congress goes on vacation, and market catalysts become scarcer. 

But, today, the combination of Blue Owl and Oracle managed to throw another wrench in the AI-to-the-moon narrative engine. As Bloomberg's Michael Ball reported, Oracle’s latest data center drama has reopened AI capex angst Wednesday and bled into the wider market, even though it looks more like Blue Owl’s problem than Oracle’s. AI capex wobbles -- even ones that turn out not to be the fault of the major players -- keep sparking de-risking and are a growing headwind for the rally even as other sectors try to carry the move.