Finance

The momentum in AI-linked stocks cooled significantly following a quarterly earnings miss by Broadcom, which triggered a massive $300 billion loss in market value. This stumble has led investors to reassess valuations for major chipmakers like Micron and Nvidia after a period of intense one-directional gains.

Cryptocurrency markets experienced a severe selloff, with Bitcoin dropping toward $61,343, marking its lowest levels since February. The decline follows 13 consecutive days of net outflows from U.S. spot ETFs and shifting liquidity as the dominant market narrative loses steam.

Concerns over persistent inflation and rising energy costs have shifted the policy outlook, with some Fed members now suggesting interest rate increases may be necessary. Markets are currently adjusting to the reality that the central bank is unlikely to deliver any rate cuts in the immediate future.