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US stocks sold off sharply as tech and chip shares plunged, with the Nasdaq suffering a record point drop and over $1.8 trillion wiped from the S&P 500 amid rising volatility and market caution.

Some dividend-paying stocks have cut their payouts, and Morgan Stanley is warning investors to take note.
Chip and semiconductor shorts are increasing as a previously strong trade begins to reverse.
Analysts still see substantial upside left in the technology boom despite recent volatility.
Truist says Meta may have identified a new business opportunity worth around $20 billion.
Bitcoin’s sharp decline is triggering heavy trading across related stocks and crypto-linked assets.
The market has been volatile, with Wall Street ending lower after a choppy session and major indexes suffering steep selloffs.
AI stocks, especially the biggest winners, are under pressure as concerns grow about costs, token expenses, and sustainability of the rally.
SpaceX’s possible IPO is attracting intense attention, with demand reportedly far exceeding supply and concerns about retail investors getting caught up in the hype.
Inflation, oil prices, and broader macro risks remain in focus as investors weigh whether the economy and markets are losing momentum.
Crypto, stablecoins, tokenized assets, and regulated digital finance are emerging as major themes for the next phase of financial innovation.

Hong Kong stocks edged lower as the Hang Seng Index fell 91 points to 24,565, with Tencent’s rebound narrowing but blue-chip rotation keeping turnover active.

Jingdong, Meituan, Ctrip, and others have become the first batch of companies invited to join WeChat’s AI internal testing group.
Reports say China plans to invest 2 trillion yuan over the next five years to build data centers nationwide.
Taiwan’s May exports rose 51.7% year on year, far beating market expectations.
KGI raised its S&P 500 target to 8,000 points and kept its forecast for U.S. GDP growth at 2.2% this year.
Hong Kong stocks fell, with the Hang Seng Index down 91 points to 24,565; Tencent narrowed gains, while some resource and banking names hit new highs.
Goldman Sachs lifted its Micron target price to $900, while maintaining a “Neutral” rating and raising revenue and profit forecasts.
KGI said China’s economy should bottom out and stabilize in the second half, recommending names such as China Resources Land, Tencent, Alibaba, and UBTech.
Alibaba Cloud’s DMS security collaboration package was reported to have increased in price.
Baidu denied claims that it is a military-linked company and said it will use all means to be removed from the relevant list.
Multiple firms were added to a U.S. “military-related” list, prompting China’s Foreign Ministry to call on the U.S. to stop what it called unreasonable suppression of Chinese companies.

Japanese markets were lifted as the Tokyo stock market rebounded sharply, with the Nikkei surging 1,392 points back above 65,000 on strong buying after gains in U.S. tech shares.

The yen remains in the low 160s, with markets cautious about possible government and Bank of Japan intervention.
The Bank of Japan is preparing to raise interest rates to 1.0%, a 31-year high, partly due to inflation risks from Middle East tensions.
The Tokyo Stock Exchange surged, with the Nikkei recovering above 65,000 points on the back of strong U.S. tech stocks.
Finance Minister Katayama warned against yen weakness and indicated that intervention or other strong measures are available.
In New York, the yen stayed weak near 160 per dollar while traders remained alert to intervention risk.
The Dow fell as Middle East concerns weighed on sentiment, even as the Nasdaq rebounded.
Sumishin SBI is aiming to grow to 15 million accounts and become the market leader.
The transport ministry plans tougher enforcement against special vehicles such as trailers starting in fiscal 2026.
Fuji HD and Murakami’s side resolved their voting-rights dispute, leading Fuji HD to withdraw its injunction request.
Notable culture and business items include the Kyoto opening of Kayanoya and the death of Nikka master blender Shigeo Sato.

UK regulators moving to allow mutual funds up to 10% exposure to crypto ETNs marks a major step toward mainstream crypto adoption in traditional finance.

Securitize’s CEO argues that tokenized stocks could open the door to a $5 trillion crypto opportunity.
The UK regulator is considering a rule change that would let mutual funds allocate up to 10% to crypto ETNs.
Congress is being urged to fix five corruption-related loopholes in the Clarity Act.
TradFi and Web3 firms are pursuing $650 million in onchain private credit with AI-based evaluation.
Ethena has gained support from Janus Henderson, with the asset manager investing in ENA and exploring USDe distribution.
One market analyst expects crypto prices to remain quiet until after the summer.
a16z and Paradigm are backing a $175 million effort to move global credit markets onto blockchain rails.
The CoinDesk 20 fell broadly, with AAVE leading declines at 2.6% while all components traded lower.
Bernstein says Bitcoin inflows have slowed in 2026 as investor interest shifts toward AI.
BlackRock is warning that rising energy costs could worsen inflation, as May CPI is expected to show acceleration.

XRP is holding up better than Bitcoin and Solana even though the broader market is falling.
A headline suggests Google Gemini may have made a surprisingly accurate XRP price call.
Zcash’s Ironwood upgrade has been finalized to fix an Orchard pool issue and is aiming for a July rollout.
Bitcoin around $62,500 is being watched closely, with a possible Trump-Iran peace deal seen as a catalyst for a rally.
Ethereum could face a fresh market move as MetaMask introduces AI agent bots.
Concerns are being raised that Strategy’s Bitcoin-heavy position could face a “death spiral” scenario.
Microsoft Copilot AI is projecting an interesting Bitcoin price outcome over the next 30 days.
Trump’s crypto connections are under scrutiny amid claims that government changes may have benefited prediction markets.

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