The Rundown Apple Post Strong iPhone Sales, Trump Picks Warsh as Next Fed Chair
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Jan 30, 2026 Markets react to a tech sell-off and wild swings in gold, silver and Bitcoin. Trump's pick of Kevin Warsh for the Fed sparks debate over future policy. Apple reports a blowout quarter with a 23% iPhone surge but rising memory and chip costs threaten margins. OpenAI is planning a Q4 IPO. Sandisk jumps on AI-driven storage demand while KLA struggles with supply pressures.
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Tech Earnings Can Trigger Huge Volatility
- Markets experienced a sharp intraday sell-off led by tech, with Microsoft losing about $350 billion in market cap.
- Tech volatility remains extreme and can drive outsized market moves on earnings misses.
Commodities And Crypto Are Volatile
- Gold and silver pulled back sharply after record highs, behaving like crypto in volatility.
- Bitcoin also fell to $82,000, showing persistent downside pressure across alternative assets.
Mixed Signal Fed Nomination
- Kevin Warsh is a former Fed governor whose stance on rate cuts has recently softened.
- His nomination signals both experience and potential policy uncertainty for markets.