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US markets were led by a sharp AI-related tech rotation, with hyperscaler spending concerns and semiconductors under pressure even as select AI infrastructure and crypto stocks rallied.

SpaceX’s market value loss has now reached the equivalent of an entire Tesla, highlighting a major erosion in investor wealth.
Inflation-protected bond yields are climbing sharply, prompting investors to consider how these securities can be used in portfolios.
Crypto-related stocks are rising as money rotates away from AI infrastructure, while bitcoin miners are not keeping pace.
Some analysts see strong upside in a niche tech company that acquires old brands such as AOL.
One stock is said to be breaking out of a long corrective phase, according to technical strategist Katie Stockton.
Netflix’s recent weakness may be setting up a rebound, according to trader Mike Khouw.
Josh Brown’s favored stocks are seeing a repeat-style move, suggesting renewed momentum in a previously popular name.
AI spending by hyperscalers has pressured stocks, and analysts warn that a pullback in spending could be even more damaging.
Artificial intelligence is increasingly spreading into the wider economy, according to an investment strategist.
Chinese chipmaker CXMT surged after a blockbuster IPO, while broader markets are becoming less tolerant of unlimited AI capital spending.

Hong Kong stocks opened higher as AI-related momentum and strong tech news—along with reports of HSBC setting up an AI center in Singapore and broader market support from export growth—helped lift sentiment.

Sihuan Pharmaceutical’s amsacrine hydrochloride enteric-coated tablets reached the main endpoint in Phase III depression trials.
Hong Kong’s June exports were boosted by AI-related demand, and full-year export growth is still expected to exceed 20%.
HSBC will open an AI center in Singapore and recruit over 100 AI experts.
Ant Group launched LLaDA 2.2, a diffusion language model that can correct itself while generating actions.
Apple surpassed Nvidia to become the world’s most valuable listed company.
Nvidia is said to be negotiating with OpenAI on a possible US$250 billion guarantee for AI expansion.
China reportedly has begun mass-producing domestic DUV lithography machines, with deliveries expected to major chipmakers this year.
The U.S. imposed new 12.5% Section 301 tariffs on China, and China called on the U.S. to reverse the move and end unilateral tariffs.
Brent oil prices dropped sharply, lifting U.S. futures and European equities while pressuring energy and shipping stocks.
China’s markets saw strong activity in IPOs, buybacks, M&A, and profit growth, alongside stricter insider-trading enforcement.

Tokyo stocks fell sharply, dropping 10,000 yen from their record high as selling hit semiconductor shares on weak U.S. equities and the index slipped below 63,000 yen.

Japanese stocks fell sharply from their recent record high, dropping 10,000 yen and briefly slipping below 63,000 yen as selling hit semiconductor shares amid weak U.S. stocks.
Japan’s minimum wage review entered its sixth meeting, with expectations that the current 1,121 yen level could be raised into the high 1,100-yen range.
Trump criticized the Federal Reserve as “political,” while also warning about interest-rate concerns and claiming the U.S. already has one of the world’s lowest rates.
The yen traded in the upper 163-yen range against the dollar in Tokyo and New York, with moves reflecting both earlier yen weakness and safe-haven dollar selling tied to U.S.-Iran tensions.
U.S. stocks extended gains, with the Dow up 262 points, as the halt in U.S.-Iran attacks eased fears of renewed inflation pressure and supported buying.
Japan’s government is considering making food consumption tax effectively zero, aiming for speed while facing major issues such as funding, restaurant policy, and support for farmers.
Public opinion data showed many voters, including centrist and Democratic Party of Japan supporters, are more willing to accept a 1% food tax than to reject it outright.
BYD launched a light EV model called “RACCO” in Japan, signaling a push to challenge Japan’s stronghold in the domestic EV market.
The Ministry of Agriculture abandoned plans to buy back stockpiled rice early, while private inventories remain high, raising concern that rice prices may keep falling faster.
Several structural-change stories point to ongoing pressure in Japan’s industries and policies, including shrinking Blu-ray demand, Porsche job cuts, delayed nuclear storage construction, eel aquaculture commercialization challenges, tighter controls on false ads and online abuse, and a new Kaido shop in Osaka promoting figure-making culture.

Bitcoin held up despite a broader crypto selloff, but traders are now focused on the upcoming Federal Reserve meeting to determine the market’s next move.

The U.S. Senate is delaying action on the crypto Clarity Act while it prioritizes other limited legislative work.
Kalshi and Polymarket have secured a temporary win against Minnesota’s ban on prediction markets.
Bitcoin is holding up despite an AI-related market selloff, but the upcoming Fed meeting may shape its next move.
A major $90 trillion trading product is set to reach Wall Street, although big banks are moving cautiously.
Uphold has reduced its global workforce by 17% as the crypto downturn continues to pressure the industry.
Perpetual futures, or “perps,” remain one of crypto’s most active and important trading tools.
Fanatics has acquired a regulated exchange to expand further into prediction markets.
Cantor is advising crypto bank AMINA as it explores a possible public listing.
Lido is shifting $16.5 billion in staked ether to reduce its validator count by one-third.
Thailand’s SEC says Bitkub hid a cyberattack that allegedly resulted in a $50 million hack.

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