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U.S. stocks suffered a sharp selloff, with the S&P 500 erasing $1.8 trillion and the Nasdaq posting its biggest point drop on record as investors braced for higher Fed rate odds after solid jobs data.

Citi raised its S&P 500 target to 8,100, citing strong earnings momentum driven by AI.
Bank of America lifted its Sandisk price target to $2,100 because of a very tight supply-demand balance.
Several Wall Street analysts are highlighting dividend stocks and income ideas as attractive places for steady returns.
Market watchers say some stocks are overbought after a volatile week, while chip shares may be losing steam.
Berkshire Hathaway is making new investments, with Abel charting his own path and allocating billions toward AI-related opportunities.
Short sellers are targeting Strategy as bitcoin weakness pressures crypto-linked stocks.
SpaceX’s proposed IPO is facing skepticism, with warnings that its valuation may be too high.
Morningstar values SpaceX at less than half the IPO target, reinforcing concerns about the company’s pricing.
Alphabet plans to sell $80 billion in stock to help fund a larger AI push.
Investors are weighing tech recoveries, selloffs, and macro risks, including Middle East tensions, strong jobs data, and rising Fed hike odds.

Hong Kong stocks fell sharply, with the Hang Seng Index dropping 304 points as Baidu plunged nearly 8% and chipmakers SMIC and Hua Hong also slumped on broad tech-sector weakness.

S&P expects Lee & Man to keep a net cash position over the next 12 months and maintains a stable outlook on its rating.
Invesco’s Zhao Yaoting said Asian tech stocks remain highly linked to the U.S. semiconductor cycle, and the current pullback is a healthy cyclical correction.
China Passenger Car Association reported May retail sales of new energy passenger vehicles at 950,000 units, down 7.5% year on year.
ByteDance Group Hong Kong reportedly obtained a money lender license and is studying business expansion in Hong Kong.
WeChat is opening access to its AI ecosystem capabilities for developers, signaling broader AI integration.
Hong Kong stocks fell sharply, with the Hang Seng Index down 304 points as Baidu, SMIC, and Hua Hong all posted notable losses.
Reports said the UK prime minister plans to ban children under 16 from using “harmful” online platforms.
China’s Foreign Ministry said it is willing to maintain communication with Russia and India to advance trilateral cooperation.
Brokerage commentary highlighted buying opportunities in Mengniu, a lower target price for ENN Energy, and a preference for China Resources Land over China Vanke Services.
Broader market themes included strong listings and financing activity, a pickup in AI, semiconductors, robotics, glass substrates, sodium batteries, and capital-market reforms in China and Hong Kong.

Japan’s market was hit by a sharp selloff, with the Tokyo Stock Exchange plunging over 3,000 points at one stage on heavy AI and semiconductor selling amid weaker U.S. stocks.

Activist shareholders are becoming more active, with record-high proposals expected at June shareholder meetings. They are also intervening in executive appointments and business restructuring.
Activist investors are suspected of secretly coordinating with one another. The issue was raised at an expert meeting at the Ministry of Economy, Trade and Industry after several cases of alleged being “outmaneuvered.”
Saitama Resona Bank is strengthening its regional expansion strategy. President Shinichi Shinofuji says the bank is reinforcing its approach through the three pillars of “town,” “people,” and “jobs.”
Consumer sentiment improved for the first time in three months in May. Spending during the long holiday period remained solid, helping lift the overall economic mood.
Long-term interest rates rose to 2.715 percent. The increase followed the upward trend in U.S. long-term yields.
The G7 is discussing how to respond to fertilizer shortages. Agriculture ministers held an emergency meeting to support stable food production amid turmoil in the Middle East.
The Tokyo Stock Exchange plunged sharply, with the closing drop reaching 2,563 yen. It was the second-largest decline of the year, driven by heavy selling in AI and semiconductor stocks.
In a separate market drop, the Nikkei fell more than 3,100 yen at one point. The index briefly slipped below 64,000, marking the fourth-largest intraday decline on record as AI and semiconductor shares were sold off.
Another session saw the market briefly fall more than 2,600 yen. Weak U.S. stocks triggered selling in AI and semiconductor names, pushing the index below 64,000 again.
Additional business and social issues were reported, including construction work on the JR Yokosuka Line, reduced business travel at Uni-Charm, and a push for practical regenerative medicine linked to the Osaka Expo legacy. Other headlines included rising luxury apartment prices in Tokyo, repeated price hikes for packaging films by Gunze, a data loss incident involving 10 million customer records at Kyushu Electric Power Transmission and Distribution, a government inspection of autonomous vehicles, and Panasonic Energy’s goal of reaching 2 trillion yen in sales by fiscal 2028 through a shift toward AI data center demand.

Bitcoin led the crypto market higher after Trump said an Iran deal was “almost complete,” briefly jumping 5% as traders reacted to the geopolitical relief rally.

Bybit is making a major move into tokenized U.S. stock IPOs, signaling a bigger push to compete with traditional Wall Street finance.
Crypto’s recovery still looks fragile, with upcoming SpaceX and Anthropic IPOs and the need for stronger ETF inflows to support the market.
Bitcoin is holding gains after Sunday’s rally, but analysts say a true trend reversal could take more time.
Gold dropping below its 200-day moving average is being seen as a potential positive sign for bitcoin bulls.
This week’s crypto market focus includes key macro events like U.S. inflation data and the European Central Bank’s rate decision.
The CME is now offering bitcoin volatility trading, and at least two firms have already started placing bets on price swings.
Zcash surged after developers proposed the “Ironwood” upgrade, though a long-running bug concern has raised new discussion around its safety.
XRP found support above $1.10 after falling to four-month lows, showing signs of a short-term rebound.
Bitcoin’s move to $63,700 caused huge losses for short sellers, with liquidations reaching their highest level since late April.
Bitcoin briefly spiked before pulling back, while traders continue watching Strategy’s next possible BTC purchases and broader market direction.

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