Finance

Semiconductor equities took a heavy hit as Wall Street grows increasingly anxious about the enormous capital spending required for AI development versus immediate profitable returns. Despite reporting a quarterly earnings beat and forecasting strong future revenue, Intel saw its stock plummet alongside substantial losses for memory chip manufacturers like Sandisk and Micron.

Global energy markets saw a reprieve as Brent crude futures dropped back below the one-hundred-dollar threshold following sharp, threat-induced gains earlier in the week. The sudden decline was sparked by reports that Pakistan is pushing to mediate fresh diplomatic talks between the United States and Iran, easing immediate inflation fears and putting downward pressure on Treasury yields.

Both Tesla and SpaceX have suffered massive valuation drops, collectively wiping out billions in paper wealth for their founder. Tesla shares slumped following missed earnings targets and its first negative cash flow in two years, while SpaceX has lost over one trillion dollars in market value from its post-IPO closing peak.