This week saw significant market movements driven by various global events. The S&P 500 and Nasdaq 100 indices experienced their worst weekly performance in three months, primarily due to a selloff in chipmakers. A failed assassination attempt on Donald Trump and rising election odds for Trump also influenced the market. The semiconductor sector was hit hard by potential U.S. export restrictions targeting ASML Holding N.V. and Tokyo Electron. Additionally, a global tech outage caused by a CrowdStrike software update affected Microsoft systems, leading to widespread disruptions. Fed Chair Jerome Powell's comments on inflation and rising unemployment claims have increased expectations for a September rate cut, which has already impacted mortgage rates and refinancing demand.