Finance

Meta Platforms catalyzed a significant shift in the technology sector by announcing plans to launch a cloud business that rents out its surplus AI computing power. This strategic move directly pressured established chipmakers and infrastructure providers, as the industry's largest buyer of AI hardware transitioned into a direct competitor.

Fed Chairman Kevin Warsh indicated that while inflation risks have softened, the central bank remains committed to a 2% target before easing policy. Markets are currently pricing in a pause for the July meeting following a June jobs report that showed a sharper-than-expected decline in hiring.

Bitcoin has struggled to maintain its position above the $60,000 threshold as institutional capital flows through ETFs become more predictable and less speculative. While the broader market remains in a reassessment phase, liquidity is increasingly concentrating in dominant assets and stablecoins, leaving many altcoins trailing behind.