Market Status: Chip Stocks Boost Seoul, US 10-Year Bond Yield Again Above 5%

Daily market review: Chip stocks lead gains in Seoul; the US 10-year Treasury yield crosses 5% again amid expectations of a rate hike; Nvidia plunges 6% on espionage concerns; CrowdStrike surges 8% after strong earnings; the dollar strengthens against the shekel.

Globes presents a daily market review: This morning, Asian markets are mixed, with the Seoul stock exchange jumping about 2.6% led by chip stocks Samsung and SK Hynix. On Wall Street, futures point to a recovery after yesterday's declines following hotter-than-expected inflation data, which paved the way for another Federal Reserve rate hike in December. The yield on the 10-year US Treasury bond crosses the 5% threshold again. Nvidia fell 6% amid suspicions of a foreign espionage plot against its CEO, losing about $500 billion in market value. In contrast, cloud computing company CrowdStrike surged about 8% in after-hours trading following stronger-than-expected earnings. The dollar strengthened against the shekel to 3.17 shekels, and oil prices edged up. In Tel Aviv, the stock exchange closed sharply higher, up about 2.2% on the TA-35 index, led by insurance and banking stocks.