Finance

Despite achieving record revenues, major chipmakers like Broadcom saw their stock prices tumble by nearly 13% after missing high expectations for artificial intelligence chip sales. This drag weighed heavily on the tech-heavy Nasdaq, which ended the session slightly lower as investors took profits from high-momentum AI names.

Cryptocurrency investment products recorded their 13th consecutive day of capital outflows, with over $4.4 billion withdrawn from spot Bitcoin ETFs since mid-May. Prices for major digital assets have declined as investors favor less risky positions while waiting for a definitive ceasefire agreement between the United States and Iran.

The 10-year Treasury yield recently jumped above 4.6% as the bond market reacts to persistent inflation and increased government debt issuance. Financial analysts are now shifting their outlook, with many predicting the Federal Reserve may implement a rate hike before the year ends, a sharp reversal from earlier expectations of rate cuts.