SpaceX grounded

SpaceX has fallen back below its $135 listing price and sits more than 30% off its post-listing peak, with insiders expected to begin selling as lockup periods expire over the coming months. The company has yet to confirm a date for its first earnings report. TSMC's record 77% profit jump offers some relief to chip investors after a rocky week. Plus, the British pound climbs to a one-year high against the euro on UK finance minister speculation.

Today’s recommended read: Fed flip-flops make case for less talk (reuters.com/commentary/reuters-open-interest/f…), Mike Dolan

Read more from Amanda Cooper (reuters.com/authors/amanda-cooper) and Anna Szymanski (reuters.com/authors/anna-szymanski)

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