What’s News in Markets: Chip Stocks Clobbered, Retail Rotation, Moderna Makes History

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  Hey listeners, it's Saturday, August 22nd.

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  I'm Imani Moise for The Wall Street Journal, and this is what's news in markets.

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  Our look at the biggest stock moves of the week and the news that drove them.

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  Let's dive in.

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  It was an unusually eventful late summer week for markets.

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  Major stock indexes lost ground as oil prices surged and bond markets went a little bonkers.

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  There were a lot of reasons for the sell-off.

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  The U.S. National debt crossed $40 trillion for the first time,

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