01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.29% at 52,421.20; S&P 500 declined 0.48% at 7,619.98; NASDAQ declined 0.56% at 26,186.41.

Semiconductor-heavy names retreated while a handful of mega-caps and cybersecurity plays advanced. Direxion Daily Semiconductors Bull 3x Shares (SOXL) fell 16.98% at $101.13; its bearish counterpart Direxion Daily Semiconductors Bear 3x Shares (SOXS) rose 17.20% at $51.73. Among chipmakers, NVIDIA (NVDA) fell 3.36% at $210.96, Intel (INTC) fell 5.59% at $97.19, Advanced Micro Devices (AMD) fell 4.40% at $493.41, and Broadcom (AVGO) fell 4.77% at $344.72. Memory peer Micron Technology (MU) slipped 5.25% at $924.03. In contrast, software security leader CrowdStrike (CRWD) jumped 13.85% at $235.38, while big-tech titans Alphabet (GOOG) added 3.06% at $345.71, Microsoft (MSFT) gained 1.97% at $505.41, Meta Platforms (META) rose 2.71% at $665.60, and Apple (AAPL) inched up 0.24% at $333.08. Data-analytics firm Palantir (PLTR) advanced 3.64% at $173.31.

Overall, the day’s tape underscored a sharp rotation out of leveraged AI-centric vehicles and hardware suppliers into select defensive growth names. Despite the broad decline, several megacaps managed modest advances, cushioning the wider market. Meanwhile, leveraged ETFs magnified swings, and sector breadth remained negative as investors weighed higher Treasury yields and fresh scrutiny on AI development.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00% to 4.96%.

USD/CNH fell 0.07% to 6.77; USD/HKD fell 0.01% to 7.84.

U.S. Dollar Index slipped 0.01% to 99.44.

WTI crude futures rose 0.58% to 101.98 USD/bbl; COMEX gold futures fell 0.37% to 4,336.00 USD/oz.

03 Top News

1. AI leaders urged a development pause, sparking a global tech sell-off. A detailed essay from Anthropic’s CEO warning of AI’s existential risks gained support from OpenAI’s Sam Altman and xAI’s Elon Musk. The call rattled confidence in chipmakers and pulled tech benchmarks lower.

2. FTC and 22 states sued Amazon over alleged hidden ad-auction surcharges. Regulators claim the e-commerce giant manipulated search-ad pricing to inflate costs for sellers. The lawsuit seeks to halt the practice and impose penalties, intensifying scrutiny of Amazon’s advertising business.

3. Bank of America’s CEO forecast “flat” trading revenue, triggering a financials pullback. Shares of Bank of America dropped over 4%, dragging peers such as Citigroup and JPMorgan lower. Investors grew cautious about near-term profit momentum across the sector.

4. Senate Republicans unveiled a revised “Clarity Act” that tightens crypto-ethics rules. The bill, backed by the White House, adds conflict-of-interest safeguards for officials and clearer consumer protections. Crypto-linked stocks such as Coinbase and Bullish climbed on optimism for regulatory progress.

5. Waymo began offering fully driverless robotaxi rides on the Las Vegas Strip. The Alphabet unit plans phased expansion across Clark County after recent launches in Denver, San Diego and Tampa. The move intensifies competition with Tesla and Amazon’s Zoox in autonomous mobility.

6. GE Vernova shares tumbled nearly 9% to multi-month lows after weak trading. The renewable-energy spin-off is now down almost 26% from its June record, reflecting investor concerns over slowing momentum and elevated costs.

7. Corning announced a potential $2 billion at-the-market stock sale, sending shares down 12%. Proceeds will fund general corporate purposes amid heightened capital-raising across the optical-components industry. The drop pares some of the stock’s strong year-to-date advance.

8. Cybersecurity firm Palo Alto Networks surged 13% on robust demand signals. The rally marked its biggest one-day gain since 2025 and pushed the stock toward recent record highs. Investors applauded continued billings strength and upbeat margin commentary.

9. Benchmark U.S. 10-year Treasury yields breached the 5% threshold, the highest since 2023. The move reflects expectations of higher-for-longer Federal Reserve policy rates and stoked worries about equity valuations, particularly in rate-sensitive sectors.

10. Elmet Group secured a $2 billion contract to rebuild the U.S. tungsten stockpile. The Defense Logistics Agency award sent shares up 36% intraday. The deal aims to bolster domestic supply chains for critical defense materials.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.