Finance

South Korean chipmaker SK Hynix successfully launched the largest-ever U.S. share sale by a foreign entity, raising over $26 billion in its initial offering. The company's American depositary receipts surged 13% during their first day of trading on the Nasdaq. This blockbuster listing provided investors with direct access to a key player in the high-bandwidth memory market critical for artificial intelligence.

A new report from the Federal Reserve under Chairman Kevin Warsh highlighted moderate economic growth of 2.1% while cautioning that inflation remains elevated. The central bank cited ongoing geopolitical conflict with Iran, new tariffs, and the capital-intensive buildout of AI infrastructure as primary drivers for rising costs. Investors are closely monitoring upcoming congressional testimony from the Fed chair for signals regarding potential interest rate hikes later this year.

Cryptocurrency markets demonstrated stability on July 10, with Bitcoin trading above $64,000 despite renewed regional tensions in the Middle East. Over the past week, both Bitcoin and Ethereum prices advanced roughly 3%, recovering from a challenging month in June. Market sentiment has been bolstered by institutional inflows and anticipated regulatory progress regarding the CLARITY Act.