Finance

New Federal Reserve Chair Kevin Warsh has adopted a more aggressive policy tone, signaling that interest rate hikes may be necessary later this year to combat persistent inflation. Although the central bank held rates steady at 3.5%–3.75% in its most recent meeting, updated economic projections have effectively eliminated expectations for rate cuts in 2026.

Major technology firms including Alphabet and Amazon saw sharp declines following concerns over massive capital expenditures on AI infrastructure and high-profile leadership departures. While some semiconductor firms like Micron initially outperformed ahead of earnings, broader tech jitters have caused significant pre-market losses for giants like Nvidia and Intel.

Bitcoin is trading near $63,000 as the market adjusts to the Federal Reserve's hawkish pivot and a firmer U.S. dollar. Despite recent volatility and record monthly net outflows of $8 billion from institutional products, some analysts suggest the digital asset may be nearing a technical bottom following its significant retreat from 2025 highs.